Mastercard AI Garage builds for the world from India
Mastercard's AI Garage, a research and development hub based in Gurugram, India, is focused on creating global payment network products. Launched in 2018, the hub applies machine learning and data science to secure these networks. Despite the majority of customers using the products outside of India, some are specifically designed for the Indian market.
The company generates revenue by providing insights to banks to reduce losses from fraudulent transactions. Mastercard has recently partnered with NVIDIA and Databricks to develop a unique foundation model, called a large tabular model (LTM), which is trained on structured data like transaction tables. This model, tailored to Mastercard's unique data characteristics, offers benefits over existing models and is being used for agentic commerce.
Mastercard's AI governance framework ensures fair and compliant use of data, while also establishing accountability for AI agents' decisions. The company sees India as a growth hub due to the fast-paced fintech ecosystem.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
