a16z Live In The Vault: How AI is Powering Payments with Greg Ulrich
Feb 4, 2025
Greg Ulrich, Chief AI and Data Officer at MasterCard, leads the conversation on navigating the complexities of AI in financial services. He discusses MasterCard's innovative 'hub and spoke' model for AI deployment, balancing centralized control with decentralized creativity. Ulrich delves into using generative AI for enhanced fraud detection and customer personalization while evaluating ROI for AI initiatives. With transparency and trust at the forefront, the conversation uncovers the future opportunities AI presents in payments and commerce.
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Greg Ulrich's AI Leadership Journey
- Greg Ulrich's journey began in nonprofit, focusing on impact measurement through data analytics.
- He transitioned into Mastercard after APT acquisition and recently took the Chief AI and Data Officer role in 2023.
AI Choice Depends on Use Case
- Mastercard selects AI technology based on the problem and data type involved.
- Traditional AI suits structured data like fraud detection, while generative AI is ideal for unstructured data tasks.
Generative AI in Fraud and Onboarding
- Mastercard integrated generative AI in fraud scoring by creating a merchant vector database.
- They use a Gen AI chatbot to enhance customer onboarding, reducing time and manual steps.