Mastercard jumps into generative AI race with model it says can boost fraud detection by up to 300%

BARCELONA, SPAIN - MARCH 01: A view of the MasterCard company logo on their stand during the Mobile World Congress on March 1, 2017 in Barcelona, Spain. (Photo by Joan Cros Garcia/Corbis via Getty Images)Payments giant Mastercard says it has built its own proprietary generative artificial intelligence model to help thousands of banks in its network detect and root out fraudulent transactions.The company told CNBC exclusively that its new advanced AI model, Decision Intelligence Pro, will allow banks to bett ...