Mastercard, a leading global payments and technology company, has revealed its plans to develop a cutting-edge artificial intelligence (AI) tool designed specifically for small businesses. This innovative platform, called Mastercard Small Business AI, aims to provide virtual mentorship and professional guidance to entrepreneurs, empowering them to achieve maximum success.
With the launch of Mastercard Small Business AI, the company strives to offer scalable mentorship by providing always-on advice from a diverse range of sources. Small business owners face numerous challenges on a daily basis, and this AI tool aims to address those challenges by offering valuable insights and recommendations.
Raja Rajamannar, Chief Marketing and Communications Officer at Mastercard, highlights the demanding nature of operating a small business. Through the introduction of Mastercard Small Business AI, the company aims to deliver mentorship at scale, offering entrepreneurs access to advice that will always be available from a wide variety of trusted and knowledgeable sources.
To develop a reliable and powerful AI tool, Mastercard is partnering with Create Labs, a technology firm specializing in developing solutions for underserved communities. This collaboration will enable the platform to serve a wide audience of small business leaders, providing them with the necessary tools and resources to thrive in an increasingly competitive marketplace.
Mastercard is leveraging its extensive library of small business content to train its AI tool in effectively responding to user inquiries. Additionally, the company has established strategic partnerships with prominent third-party brands, such as Blavity Media Group, Group Black, Newsweek, and TelevisaUnivision, to expand the available resources. These partnerships will enhance the inclusivity and intelligence of the platform, ensuring that it caters to a diverse range of entrepreneurs.
The initial launch of Mastercard Small Business AI is scheduled to take place in the United States, with services being made available to small business owners in the coming months. However, the company has ambitious plans for a global release in the near future, demonstrating its commitment to supporting entrepreneurs on a global scale.
In summary, Mastercard’s development of the Small Business AI tool underscores the company’s dedication to equipping entrepreneurs with the necessary tools and resources for success. By harnessing the power of AI and fostering inclusivity, this platform aims to provide valuable mentorship and guidance, ultimately helping small business owners navigate the challenges of running their businesses more effectively.