Podcast: Mastercard developing gen AI tool for businesses

Vaidik
Trivedi
10:59:09
Hello,
and
welcome
to
The
Buzz,
a
bank
automation
news
podcast.
My
name
is
Vaidik
Trivedi
and
I’m
the
associate
editor
of
bank
automation
News.
Today
is
March
26
2024.
And
we
will
be
talking
to
Jane
Prokop.
The
Global
Head
of
small
and
medium
sized
enterprises
at
MasterCard.
Jane
has
been
in
the
financial
services
industry
for
over
two
decades,
working
at
multiple
companies
in
a
variety
of
roles,
like
as
an
investment
officer
at
AIG,
and
as
the
chief
executive
of
principles
capital,
a
privately
held
speciality
finance
company
that
provided
financing
to
small
and
medium
sized
businesses
in
US
and
Canada.
Today,
we
will
discuss
what
challenges
small
and
medium
sized
businesses
are
facing
how
MasterCard
is
working
to
resolve
those
issues.
Where
does
generative
AI
fit
in
the
picture?
And
what’s
in
store
for
MasterCards
SME
division
for
2024.
Welcome,
Jane,
thank
you
so
much
for
jumping
on
the
podcast
today.
Can
you
give
a
little
bit
of
introduction
about
yourself
and
what
you
do
at
MasterCard?Jane
Prokop
11:00:16
Absolutely.
Hi,
Vaidik,
thank
you
for
having
me
on
the
podcast.
It’s
very
exciting.
So
briefly,
my
background,
I’ve
had
over
20
years
of
experience
primarily
in
the
financial
services
sector,
and
in
various
areas
of
financial
services.
And
about
half
that
time,
I’ve
spent
really
deeply
immersed
in
the
small
business
financing
space,
where
I
ran
a
company
that
did
unsecured
high
risk
lending
to
small
and
medium
sized
businesses
in
the
US
and
Canada.
And
what
I
discovered
during
that
journey
was
just,
you
know,
the
magnitude
and
diversity
of
the
challenges
that
are
faced
in
the
small
business
space,
but
also
a
great
deal
about
the
promise
of
growth
that
lies
within
that
space.
That’s
very
exciting
for
me,
and
I’m
coming
to
MasterCard.
My
role
here
is
to
lead
our
global
strategy
for
supporting
the
small
and
medium
enterprise
segments.
So
we
drive
innovation,
we
drive
strategy
and
product
development
for
that
space
globally.
And
of
course,
in
doing
so
we
we
build
on
and
leverage
MasterCard
strengths
in
card
and
non
card
that
is
multi
rail
payments,
as
well
as
a
full
set
of
assets
across
the
data
space,
cyber,
software
and
network
assets.
So
our
goal
in
the
in
the
group
is
to
develop
high
value,
easy
to
use
products
that
meet
SMEs,
key
needs,
across
payments
and
a
number
of
other
areas.

Vaidik
Trivedi
11:01:49
That
sounds
really
exciting.
Small
businesses
are
the
backbone
of
the
US
economy
and
a
lot
of
economies.
Can
you
tell
me?
What’s
the
state
of
small
and
medium
sized
businesses?

Jane
Prokop
11:02:04
Absolutely.
It’s
been
really
an
interesting
experience
over
the
past
several
years,
I
would
say,
if
you
back
up
a
little
bit,
and
go
back
five
to
10
years,
you’d
see,
you
know,
a
huge
proliferation
of
new
technology
and
new
tools,
abilities
to
customize.
And
those
tools
and
really
an
expansion,
massive
expansion
and
alternative
data.
And
these
are
general
tailwinds,
I
think
that
have
driven
innovation
and
improvement
in
the
small
business
space,
then
you
go
two
years
forward
and
hit
the
pandemic.
And
there
we
saw
that
it
was,
you
know,
it
really
drove
a
lot
of
businesses
to
go
online,
and
to
enter
the
digital
world
if
they
had
not
already
at
that
point,
because
it
was
a
matter
of
survival
for
many
companies.
So
the
the
issue
was
that,
in
the
case
of
SMEs,
many
of
them
weren’t
fully
able
to
embrace
these
new
new
tools,
for
a
number
of
reasons.
You
know,
fear
of
fraud,
transaction
costs
involved,
lack
of
bandwidth,
to
evaluate
some
of
the
new
tools.
And
so
I
think
the
result
of
the
pandemic
was
mixed
in
that
we
saw
a
number
of
companies
become
stronger
and,
and
really,
greatly
expand
the
way
they
did
business.
Others
were
unable
to
survive.
So
now
we
move
into
post
pandemic
time.
And
we’ve
seen
very
recently
that
2023
was
a
was
a
tough
year
for
a
lot
of
small
businesses.
And
I
would
say
that
was
that
was
driven
by
all
the
different
threats
we’ve
seen
right
geopolitical
threats,
with
the
various
conflicts
that
have
sprung
up
in
the
past
couple
of
years.
macro
economic
factors.
We
saw
inflation,
we
saw
disruption
of
supply
chains
that
created
uncertainty
for
many
of
the
small
businesses.
And
although
we
did
see
a
big
recovery
in
sentiment,
some
of
these
factors
still
I
mean,
in
the
economy
today,

Vaidik
Trivedi
11:04:09
that
makes
sense
pandemic
was
really
a
massive
disruptive
for
almost
every
sector
of
the
economy
and
our
lives
in
general.
Can
you
tell
me
what
was
the
biggest
pain
points
that
SMBs
felt
in
going
digital?
In
the
types
of
pandemic?

Jane
Prokop
11:04:30
Yeah,
absolutely.
I
would
say
that
there
are
a
few
different
things.
One
is
that
there
has
been
a
surge,
as
I
mentioned
earlier,
in
companies
that
are
developing
point
solutions
for
SMEs
over
the
past
10
years.
So
there
are
lots
of
different
new
software’s
to
handle
accounting,
or
invoicing
or
marketing
or
website
building,
and
so
on
and
so
forth.
And,
you
know,
that’s,
we’ve
tallied
the
count
at
being
hired
than
750
new
companies
that
have
emerged
in
the
past
few
years.
But
in
fact,
that
creates
a
management
problem
for
SMEs.
So
first,
they
have
to
learn
about
the
tools
they
have
to
get
educated
on,
then
they
have
to
learn
how
to
use
them,
and
they
have
to
teach
their,
you
know,
their,
their
staff
to
use
them.
And
then
they
have
to
figure
out
how
to
pull
together
the
data
that’s
been
generated
by
these
tools.
And
of
course,
the
data
that
the
tools
need
to
consume
as
well
into
a
holistic
view.
And
that’s
been
a
challenge
for
I
would
say,
most
SMEs
right
up
through
the
lower
middle
market,
because,
you
know,
they
have
a
fragmented
landscape
of
tools
today.
So
at
the
same
time,
they’re
facing
and
many
of
them
now
have
aspirations
that
go
beyond
their
local
markets.
So
they
look
to
both
source
product
internationally
and
to
sell
internationally.
And
the,
the
tools
including
payment
methods,
that
enable
that
are
often
not
fully
developed.
So
they
face
a
number
of
issues
in
in
actually
be
able
to
sell
and
be
able
to
source
globally.
So
some
of
the
needs
that
we
see
are
really
about
simplifying
that
experience
for
SMEs.
And
that’s
really
critical
to
serve
the
sector
sector
is
to
bring
together
the
critical
tools
that
they
need
to
manage
their
business
operations
into
one
place
and
make
them
relatively
easily
consumable.
Then
to
provide
the
intelligence
that
results
from
those
tools,
to
the
owners
and
the
executives
of,
of
small
and
medium
businesses,
that
gives
them
the
intelligence
to
understand
how
to
prioritize
their
activity,
you
know,
they
have
limited,
as
I
mentioned
earlier,
limited
bandwidth
to
spend.
So
they
need
to
spend
it
quite
precisely,
you
know,
and
have
a
laser
focus
on
what
they
need
to
do
to
move
the
needle
for
their
business.
So
those
are
a
couple
of
things
that
have
kind
of
come
out
of
this
push
toward
rapid
push
toward
digitization,
in
the
past
few
years.
That
makes

Vaidik
Trivedi
11:07:15
sense.
Fragmented
tools
are
really
difficult
to
work
with.
Can
you
tell
me
what
is
MasterCard
doing
to
help
small
and
medium
sized
businesses?

Jane
Prokop
11:07:24
Yeah,
that’s
a
that’s
a
great
question.
A
couple
of
things.
One
is
that
we’re
introducing
all
sorts
of
means
to
drive
the
ability
of
small
and
medium
businesses
to
accept
payments,
you
know,
because
one
of
the
first
things
they
need
to
do
when
they’re
going
online
is
figure
out
how
to
collect
payments.
So
we
have
tools
such
as
our
tap
on
phone
functionality,
which
enables
small
business
owner
to
use
any
smartphone
that
has
near
field
communications,
enabled
and
use
that
to
accept
payments,
digital
payments
ran
on
the
phone.
And
we’ve
seen
we’ve
really
grown
that
network
enormously.
we’ve
more
than
doubled
those
locations
since
2016.
And
so
that’s
been
that’s
been
an
important
part
of
ensuring
that
the
capability
to
accept
payments
online
is
extending
out
beyond
areas
that
are
you
know,
have
very
good
sort
of
legacy
broadband
wiring,
and
so
on
that
that
under
underlay
the
traditional
POS
terminals.
We
are
also
doing
things
like
creating
a
program
called
click
to
pay
online,
which
is
a
streamline
guest
checkout
that
spans
across
merchants
so
that
solutions,
consumers
can
use
the
solution
to
securely
checkout
instead
of
entering
their
data
in
every
different
website,
every
different
portal
separately.
So
it’s
a
very
simple
and
secure
checkout
experience.
And
that
is
helped
quite
a
bit.
To
make
consumers
more
comfortable
about
buying
from
small
businesses
online.
The
other
we’ve
also
done
some
work
to
simplify
cross
border
payments
for
SMEs.
So
there
are
pain
points
around
Cross
Border
Services.
And
I
would
say
that
the
biggest
ones
there
are
that,
you
know,
there,
there’s
fear
of
data
security,
when
when
SMEs
are
making
or
accepting
online
payments,
across
border,
fear
of
fraud.
There’s
also
a
lack
of
transparency
about
the
costs
and
the
timing,
when
of
when
these
payments
are
going
to
be
made.
So
we
have
a
solution
called
cross
border
Express,
which
we
introduced
last
year,
which
enables
any
financial
institution
or
FinTech,
any
player
basically,
to
embed
our
functionality
into
their
online
presence,
whereby
the,
their
small
business
customer
can
click
on
a
link,
and
then
make
a
payment
very
securely
to
an
international
receiver.
And
they
get
full
transparency
about
the
fees
at
the
time,
they’re
arranging
the
payment,
and
they
they
have
full
transparency
of
when
the
payments
going
to
hit.
Most
of
them
are
virtually
instant.
So
it’s
it’s
very
close
to
real
time.
And
they
know
exactly
how
much
money
has
been
received
on
the
other
end.
So
this
is
this
is
really
critical
to
helping
them
drive,
you
know,
they’re
they’re
built,
they’re
sourcing
and
they’re
selling
internationally,

Vaidik
Trivedi
11:10:41
having
cross
border
solutions
in
a
globalized
economy
is
very
essential.
Have
you
seen
at
MasterCard
that
a
lot
of
businesses,
they
don’t
want
to
expand
beyond
a
certain
geography,
because
they
there’s
a
lot
of
friction
in
accepting
payments
and
going
through
regulatory
compliance
for
a
different
geography.

Jane
Prokop
11:11:04
We
actually
see,
I
think
that
a
lot
of
the
companies
would
like
to
be
able
to,
to
have
scope
of
operations
beyond
their
local
economy.
And,
you
know,
75%,
our
research
are
showing
that
75%
of
them
agree
that
sending
online
cross
border
payments
has
helped
there
has
helped
our
business
to
grow
post
pandemic.
So
we
do
see,
generally
speaking,
a,
a
a
need
and
a
desire
to
act
on
their
local
markets.
You
don’t
see
many
businesses
who
are
saying
no,
I
want
to
stay
local
specifically.
You
mentioned

Vaidik
Trivedi
11:11:46
that
macro
economy
has
been
a
bit
harsh
in
the
last
year.
And
I
wanted
to
know,
how
is
MasterCard
working
with
financial
institutions
or
fintechs
to
expand
capital
access
to
these
SMBs?

Jane
Prokop
11:12:04
Yeah,
that’s
a
great
question.
Lack
of
access
to
capital
is
probably
the
number
one
problem
that
SMEs
face.
So
number
one
pain
point
globally,
and
the
World
Bank
has
estimated
that
there’s
a
gap
of
about
5.2
trillion
between
annually
between
the
amount
that
the
small
and
medium
businesses
would
like
to
get
any
amount,
they
actually
get
some
received
none
at
all,
and
many
others
received
less
than
they
would
like
to
receive.
So
really,
I
think
the
solution
to
unlocking
that
is
to
bring
together
some
of
the
innovations
that
have
happened
in
the
FinTech
space,
with
the
financial
institutions
that
serve
as
the
conduit
for
the
vast
majority
of
funds
that
are
flowing
to
you
via
lending
in
the
world
today.
So
when
you
think
about
syntax,
and
what
they’ve
done
over
the
past,
say
10
years
to
to
revolutionize
lending,
what
they’ve
done
is
they
have
greatly
simplified
the
front
end
experience.
So
they’ve
made
it
digital.
And
they’ve
made
it
very
easy
for
a
small
business
to
apply.
And
that’s
step
one.
Step
two
is
they’ve
been
able
to
harness
not
only
traditional
but
alternative
data
of
all
different
kinds
than
having
to
do
with
transaction
flows
of
the
business,
for
example,
or
their
their
business
banking
transactions.
There
are
a
lot
of
sources
of
the
alternative
data,
they
brought
those
together
to
be
able
to
create,
I
would
say
an
algorithmic
approach
to
lending
which
is
instant.
So
rather
than
going
through
the
traditional
weeks
or
months
long
process
that
a
small
business
would
do
with
a
bank,
wherein
they
have
a
loan
officer
who
receives
an
application,
ask
them
for
more
documents,
creates
a
model
representing
a
forecast
and
so
on.
Looks
at
their
audited
financials.
The
fintechs
have
been
able
to
say
let’s
let’s
pull
in
all
the
different
data
gives
us
an
idea
of
the
risk
involved.
And
let’s
use
scoring
to
give
us
the
stratification
of
the
risk
of
those
applicants.
And
based
on
that
scoring,
then
there
can
be
an
automated
decisioning.
And
our
automated
formulation
of
an
offer
out
to
the
applicant.
So
what
that
does
is
it
vastly
reduces
the
amount
of
expense
involved
in
processing
those
applications.
It
increases
the
satisfaction
of
the
small
business
who’s
applying
for
the
financing,
and
it
ultimately
creates
a
much
better
performing
portfolio
of
loans
for
the
lender.
So
that’s,
that’s
been
the
experience
of
fintechs.
Where
I
think
they
run
into
headwinds
is
that
cost
of
capital
for
fintechs
can
be
who
are
involved
in
lending
can
be
very
high
and
very
volatile.
And
the
cost
of
customer
acquisition
is
quite
high.
And
so
where
the
banks
come
in
is,
banks
have
to
have,
you
know,
access
to
very
low
cost,
depository
capital,
and
to
intervene
capital.
So
their
cost
of
funds
is
low
and
stable.
And
they
have,
you
know,
a
huge
repository
of
customers
for
their
other
products
to
whom
they
can
cross
sell
at
a
relatively
low
cost.
So
then
they
of
course,
have
compliance,
they
have
all
the
infrastructure
for
for
security
and
compliance
on
the
back
end.
So
it’s
really
a
perfect
fit
between
the
two,
to
bring
the
two
together
to
offer
that
combined
exceptional
experience.
And
I
think
that
as
that
progresses
through
the
lending
world,
that
is
really
what’s
gonna
unlock
the
flow
of
capital
to
a
far
wider
range
of
small
businesses,
and
in
amounts
that
are
quite
appropriate,
and
that
will
enable,
you
know,
obviously,
better
growth
in
these
companies
and
also
a
more
level
playing
field,
which
provides
some,
for
some,
you
know,
a
better
degree
of
inclusion
in
that
lending
scenario.
So

Vaidik
Trivedi
11:16:12
whenever
we
talk
about
payments
and
lending,
fraud
definitely
comes
to
mind.
And
earlier,
you
mentioned
that
MasterCard
is
helping
SMBs
and
safeguarding
themselves
from
fraudulent
activities.
Can
you
tell
us
a
bit
more
about
that?
How
are
you
doing
it?
And
what’s
the
success
ratio
that
you
have?

Jane
Prokop
11:16:36
Absolutely,
yes,
cyber
is
really
an
important
area
for
us
at
MasterCard,
and
we’ve
been
investing
significantly
over
the
last
10
years
or
and
more
into
growing
our,
our
set
of
assets.
So
to
step
back
for
a
second
and
just
quantify
the
the
threat
and
what’s
out
there.
Some
of
the
big
trends
we
see
are
continued
rapid
digitization
of,
of
activity,
and
if
we
apply
it
to
SMEs,
we’ve
already
talked
about
them
going
online,
and
looking
to
the
business
in
unfamiliar
geographies.
So
that’s,
that’s
considered
continuing
to
proceed
a
pace.
We
also
see
unprecedented
levels
of
connectivity.
And
that’s
both
among
SMEs
and
consumers.
As
smartphones
proliferate
around
the
world,
and
connectivity
becomes
more
accessible,
virtually
everybody
is
connected
into
online
activity.
And
then
we
see
an
exponential
growth
in
data.
And
so
these
three
things
together
have
really
turned
cybercrime
into
an
industry.
So
if
you
if
you
were
to
quantify
it,
you’d
see
that
it’s
cybercrime
would
be
the
world’s
third
largest
economy,
behind
the
US
and
China.
There’s,
that’s
our
biggest
calm.
And
within
that
landscape,
we
see
that
43%
of
cyber
attacks
target
small
businesses.
At
the
same
time,
small
businesses
are
less
equipped
and
big
ones,
to
be
able
to
protect
themselves
against
fraud
and
financial
loss
and
cyber
attacks.
So
very
often,
their
IT
services
are
are
outsourced
to
third
parties,
and
the
owners
and
managers
of
the
business
actually
don’t
really
know
the
nuts
and
bolts
of
how
it
works.
So
we
have
developed
a
multi
pronged
strategy
at
MasterCard
with
addressing
the
cyber
threat.
First
of
all,
we
have
assessment
tools
by
which
we
monitor
90
million
entities
globally.
And
that
happens
on
a
cycle
that
repeats
every
10
days.
We
have
protection
tools
that
that
help
stop
an
attack
once
one
has
been
detected.
And
that’s
been
powered
a
great
deal
by
our
AI
technology.
And
then
we
also
organize
we
work
and
we
collaborate
with
industry
players
and
governments
to
set
standards
and
to
influence
policy
that
will
help
to
spread
these
Innovations
in
these
protections
more
broadly.
So
we
think
of
this
as
these
three
things
assess,
protect,
and
organize
as
three
layers
of
a
portfolio
of
solutions
that
are
designed
to
work
together
and
to,
and
to
provide
protection
at
every
stage
of
a
transaction.
For
small
businesses,
specifically,
there
are
a
few
of
our
products
that
are
very
relevant.
One,
one,
I
would
say
that
I’d
like
to
highlight
is
our
tool
called
My
cyber
risk.
And
this
is
an
automated
tool
that
monitors
the
cyber
environment
of
a
business’s
online
presence,
to
identify
vulnerabilities
that
they
have
before
a
cyber
attacker
can
come
and
exploit
them.
So
it
gives
them
back,
it
kind
of
crawls,
looks
at
the
environment,
and
then
comes
back
with
a
report
to
the
owner
to
say,
here
are
the
vulnerabilities
we’ve
seen,
here
are
ways
that
you
can
address
those
vulnerabilities.
And,
you
know,
that’s
really
critical
to
small
business
owners,
because
as
I
mentioned
earlier,
most
of
the
time,
they
aren’t
intimately
familiar
with
how
their
IT
environment
has
been
set
up,
and
it’s
being
operated.
So
they
won’t
be
able
to
answer
on
a
questionnaire
based
type
of
approach,
they’re
not
going
to
be
able
to
answer
most
of
the
questions.
This
takes
away
that
barrier
and
does
it
for
them.
And
we’re
starting
to
pair
that
with
some
of
the
other
protection
tools.
We’ve
got
some
new
tools
that
we
plan
to
roll
out
later
in
the
year,
which
are
specifically
designed
for
small
businesses,
to
help
them
take
the
next
step
once
they’ve
assessed
the
vulnerabilities
to
address
those
vulnerabilities.
So
that’s
a
little
bit
about
the
way
that
we’re
approaching
this
to
keep
businesses
safe.

Vaidik
Trivedi
11:20:58
So
talking
of
automation,
you’re
already
deploying
automation
in
finding
vulnerabilities
within
an
SMBs
digital
ecosystem.
Can
you
tell
me
what
are
some
other
use
cases
that
MasterCard
has
in
place,
and
they’re
exploding
with
automation
and
AI?
Sure.

Jane
Prokop
11:21:18
We
have
another
product
solution
called
a
new
detect,
which
uses
machine
learning
and
behavioral
biometrics,
and,
and
basically
rests
on
billions
of
data
points,
to
validate
users
in
real
time
without
disrupting
the
digital
experience.
So
it
means
that
customers
get
a
secure
and
frictionless
experience.
At
the
same
time,
it’s
able
to
understand
whether
there’s
anything
potentially
fraudulent
going
on
and
to
provide
a
warning
of
that
going

Vaidik
Trivedi
11:21:52
into
2024.
Can
you
tell
me
what
you’re
seeing
in
the
market?
What’s
on
your
Horizon?
What’s
something
in
the
pipeline
that
has
gotten
you
excited?

Jane
Prokop
11:22:02
Well,
I,
I
suspect
I
sound
like
many
others
when
they
answer
this
question.
But
AI
driven
technologies
are
definitely
forefront.
For
us,
you
know,
and
the
newest
step
change
in
terms
of
Gen
AI,
has
been
also
something
that’s
fueling
a
lot
of
innovation
at
MasterCard,
we’ve
been
using
AI
for
four
years,
we’ve
used
it
to
protect
against
fraud,
you
know,
to
monitor
transactions,
and
so
on.
And
so,
you
know,
that
that’s
been
sort
of
a
bedrock
for
us.
But
we
are
looking
at
what
we
can
do
with
the
newest,
the
newest
advantages.
And
in
doing
that
we’re,
we’re
spending,
we’re
turning
that
toward
both
our
internal
operations,
and
our
customer
facing
operations.
So
one
of
the
biggest
applications
of
AI
is
to
actually
make
it
faster
to
develop
new
products,
and
we’re
definitely
moving
in
that
direction.
But
in
terms
of
customer
facing
ones,
we’re
in
the
stage
of
testing
and
learning
a
lot
of
those
right
now.
And
we
see
a
bunch
of
I’ll
talk
about
an
example
in
a
moment,
but
we
we
see
lots
of
potential
advantages
for
payment
solutions
of
AI.
Optimizing,
optimizing
payment
performance,
and
security
is
really
important
because
AI
is
better
than,
you
know,
human
ever
could
be
at
detecting
anomalies
and
data
flows,
errors,
fraud,
and
then
monitoring,
managing
the
resulting
payment
risks
from
that.
It
can
we
can
use
it
to
leverage
data,
insight,
data
and
insights.
And
that’s
super
important
because
not
only
are
we
using
machine
learning
to
to
get
better
insights
out
of
structured
data,
but
we
can
use
Gen
Gen
AI
to
get
better
insights
out
of
unstructured
data.
So
it
allows
us
to
bring
the
two
together
in
a
way
that
no
one
really
could
previously
and
And
then
a
third
big
area
is
adapting
to
changing
customer
needs
and
preferences.
So
the
the
potential
for
customization
and
personalization
of
our
services
of
our
payment
solutions
and
our
other
services
is
practically
limitless.
Because
you
know,
AI
can
continue
to
learn
from
every
interaction
that
it
has
with
a
customer,
and
then
further
tailor
the
content,
suggestions
to
their
specific
situation.
So
one
of
the
things
that
I
wanted
to
mention
about
AI
when
this
is
super
important
for
for
MasterCard,
we’re
really
approaching
in
a
way
that
we
want
to
ensure
that
it
is
ethical,
and
it’s
transparent.
And
it’s
also
reliable.
So
we’re
being
careful
in
the
way
that
we
deploy
anything
that’s
customer
facing.
But
we’re
starting
to,
as
I
mentioned,
do
test
and
learn
in
this
area.
And
so
one
of
the
things
that
we
have
underway
right
now,
which
we
plan
to
roll
out
at
the
end
of
this
year
is
a
small
business
AI
tool
that
we’re
doing
together
with
a
large
media
coalition.
And
the
intent
of
that
tool
is
to
be
able
to
use
relatively
unbiased
data
sources,
to
provide
suggestions,
general
suggestions
about
that
for
questions
that
small
business
owners
may
have,
again,
relying
on
data
that’s
likely
to
be
less
biased
than
we
normally
see
in
the
public
Internet.
So
entrepreneurs,
you
know,
who
are
looking
to
start
a
business,
or
they’re
looking
to
figure
out
how
to
organize
it
better
they
can,
they
can
ask
questions
about,
you
know,
I’m
in
this
industry,
and
what’s
the
best
form
of
organization
is
that
a
partnership
is
LLC,
a
corporation,
etc.
Or
a
sole
proprietorship
for
this
type
of
business.
And
they
can
ask
that
it’s
intended
for
general
purpose
using
these
sorts
of
sources.
And
that’s
gonna
be
our
first
sort
of
version
of
the
tool.
We
plan
and
we’re
developing
in
parallel
AI
tools
that
can
be
deployed
on
proprietary
datasets.
So
whether
it’s
our
internal
datasets,
whether
it’s
our
datasets
combined
with
partner
datasets,
these
are,
you
know,
can
be
directed
toward
much
more
specific
use
cases.
So
what
we
see
coming
out
of
it
ultimately
is
a
suite
of
different
AI
tools
that
are
suited
to
a
range
of
use
cases
for
small
and
medium
businesses.

Vaidik
Trivedi
11:26:51
Really
excited.
So
it
sounds
like
a
chat
GPT
specifically
catered
towards
entrepreneurs
and
businessmen.

Jane
Prokop
11:27:00
Yes,
and
there
are
there
are
multiple
AI
tools
actually
Gennai
tool.
So
we’re
using
we’re
experimenting
with
not
just
the
chat
GPT
but
with
others
as
well.

Vaidik
Trivedi
11:27:10
Are
you
creating
this
tool
in
house?
Or
are
you
working
with
a
vendor
or
a
third
party
to
create
this
tool?

Jane
Prokop
11:27:16
The
tool
that
I
mentioned,
that’s
going
to
be
out
later
this
year,
we’re
working
with
in
partnership
with
a
company
called
Create
Labs,
which
is
going
to
be
doing
the
build
together
with
us.
And
as
I
mentioned,
we
have
a
media
coalition
that’s
providing
the
data
sources
including
black
team,
media
group
group,
black,
Newsweek,
and
some
others.
So
we
do
see
this
as
they
kind
of
range
of
solutions,
some
of
which
we
will
produce
in
partnership
with
other
either
channel
partners
or
tech
partners
of
ours.
And
some
which
of
which
we
will
produce
in
house,
you
know,
using
and
relying
on
a
MasterCard
data
sets.

Vaidik
Trivedi
11:28:03
Okay.
Well,
thank
you
so
much
for
joining
us
on
our
podcast
this
week.
And
I
hope
we
get
to
have
a
chat.
So

Jane
Prokop
11:28:12
thanks
so
much
for
it.
It’s
been
a
pleasure
to
be
with
you.
And
I
hope
to
meet
again
soon.

Vaidik
Trivedi
11:28:18
You
have
been
listening
to
the
buzz,
a
bank
automation
news
podcast,
please
follow
us
on
LinkedIn.
And
as
a
reminder,
you
can
read
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podcast
on
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platform
of
choice.
Thank
you
for
your
time.
And
be
sure
to
visit
us
at
Bank
automation
news.com
For
more
automation
news,

Transcribed
by
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