Mastercards Ethical Approach to Governing AI Oyku Isik Lisa Simone Duke 2022
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“Mastercard is a tech and payment company that is part of the financial services industry. This essay explores the ethical approach to governing AI in the context of Mastercard. The company is using machine learning and artificial intelligence (AI) to deliver new services and capabilities. The company acknowledges that the deployment of AI and machine learning has the potential to change the payment landscape significantly. This essay considers some of the challenges and risks associated with the use of AI and machine learning in payment services, such as concerns about data privacy and security,
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Oyku Isik Lisa Simone Duke, Pay Someone To Write My Case Study on Mastercards Ethical Approach to Governing AI, has received the top award in the 2022 CASEL Ethics Case Competition. The event was held virtually by CASEL’s Ethics Education Network. I was the only undergraduate student in the competition. I’m a senior at Penn State, double majoring in accounting and economics. My ethical research project focused on Mastercard’s AI-driven decision-making
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Mastercards is a financial technology and services company that provides cards, banking, and payment services. In April 2022, Mastercards launched a new Artificial Intelligence (AI) platform, called X, which promises to provide insights and analytics to banks, financial institutions, and insurance companies. The platform aims to help businesses make data-driven decisions faster and more effectively than ever before. I was selected as a consultant for this project and I will be providing an assessment report and some recommendations for how Mastercards can effectively govern
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People are now more aware of the environmental effects of the use of the AI powered products/services. For instance, Mastercard announced their commitment to using 100% renewable energy from renewable sources by 2030. This is a commendable move. This is an example of the company’s responsiveness to the sustainability and environmental policies and commitments in the industry. Additionally, I have seen some ethical concerns raised by some consumers when they learn that companies are harvesting customer data for the AI
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In recent years, AI has advanced significantly, and companies like Mastercard have developed a way to leverage the technological innovations for business purposes. Mastercard is one of the largest payment services provider in the world, serving millions of customers worldwide. To become more effective, the company needs to ensure that the use of AI is fair and responsible. One approach that Mastercard has taken is the adoption of a responsible AI governance approach. In this report, we will analyze Mastercard’s governance of AI, discussing the key elements of their AI
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Mastercards is an international banking company with approximately 22 million customers worldwide, with offices in 44 countries. Mastercard provides different services and banking products in many different forms such as credit cards, debit cards, prepaid cards, credit scoring, mobile banking, international banking, etc. According to the company’s annual report in 2020, Mastercard, Inc. Acknowledged AI technology as an area of growth and an opportunity to enhance the user experience for its clients. The report stated: “The world is constantly
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AI is a game-changer in every aspect of our life, and the impact it has on the world cannot be overemphasized. With the advancement in AI, it has revolutionized several areas such as healthcare, automotive industry, e-commerce, and even the financial sector. Mastercard has realized that AI holds tremendous potential, and as a company, they have established an Ethical AI Board (EAB) to guide their AI governance practices. more tips here AI is a complex technology with far-reaching implications, and