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BRIAN HIGGINS - Chief Customer Experience Officer | Verizon
https://www.verizon.com/business/en-au/
(NYSE: VZ)
MOHAMED ABDELSADEK - Executive Vice President, Data, Insights & Analytics | Mastercard
https://www.mastercard.us/en-us/business/fintech.html
(NYSE: MA)
BRIAN HIGGINS - Chief Customer Experience Officer | Verizon
https://www.verizon.com/business/en-au/
(NYSE: VZ)
MOHAMED ABDELSADEK - Executive Vice President, Data, Insights & Analytics | Mastercard
https://www.mastercard.us/en-us/business/fintech.html
(NYSE: MA)
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NewsTranscript
00:00 How are your companies using AI to drive innovation?
00:04 And can you share an example
00:06 of a successful AI implementation at your organizations?
00:10 - Yep, Mahamud, you want me to start off there?
00:15 - Sure, go for it, Brian.
00:16 - Okay, yeah, we'll do.
00:17 So listen, I think, Mitch, first of all, great seeing you.
00:20 The first part I'd say is that AI is already heavily embedded
00:24 into the Verizon organization.
00:25 We're using it throughout all of our operations.
00:29 And if I had to pick just a few key areas for us,
00:32 it has to do with how do we interact with the customers,
00:35 and I'll touch on that in a moment,
00:37 and then also how do we become more efficient
00:39 within our operations.
00:42 For the customer side,
00:43 probably the best example I can provide
00:45 is gonna be around personalization.
00:47 If you think about Verizon,
00:49 we've got nationwide footprints, we're a global company,
00:52 we have well north of 100 million customers,
00:55 both home broadband and also mobile,
00:58 and then we have offers with content partners,
01:01 our own value props, et cetera, that sit in between.
01:03 And we've gotta make sure that we create
01:06 a one-to-one engagement with the customers.
01:08 So what that really means is that
01:10 pulling together value props or offers
01:12 based upon all the offerings that we have
01:15 directly with the consumer.
01:17 So the best way to think about this is that,
01:19 if Mitch was looking for a particular offer with Verizon,
01:22 I wanna make sure I take into account
01:24 everything that's in his account,
01:26 does he have home broadband with us or not?
01:28 Mobile, is he using a Disney+ as an example,
01:31 and then tailor something very specifically to his needs.
01:35 That way, it's a real one-to-one engagement,
01:37 and that's all driven by AI.
01:39 So we've got everything in the background
01:40 that pulls that together.
01:42 On the operational side,
01:43 I'll just touch on efficiency within our call centers
01:46 as an example.
01:47 So we've had going on for a number of years,
01:50 an engagement where we work together to match customers
01:53 with the right representative,
01:55 within our call center.
01:56 So what that means is,
01:58 if you're calling in because you've got
02:00 a question on a promotion or a question about a device,
02:03 we wanna make sure that we get you mapped
02:05 to the best representative
02:06 that's gonna have an efficient call
02:08 and one that's gonna lead to customer success.
02:10 So we do all that matching in the background,
02:12 again, all AI driven,
02:14 and then that makes for a better interaction
02:16 between our customers
02:17 and also the representative that we have on the floor.
02:20 Thank you for sharing that perspective.
02:22 We'll go to Mohamed here.
02:23 Yeah.
02:24 Yeah, look, like Brian said,
02:26 for us, we've been using AI for many, many years.
02:29 And obviously there's a lot of interest in AI right now.
02:31 And certainly with generative AI,
02:33 it creates a lot new opportunities.
02:35 But if I look at how we've been using AI at Mastercard,
02:39 so you know, three primary ways.
02:40 We've embedded in many of our products.
02:42 So, and we'll talk about a couple of examples of that.
02:45 We also help many of our customers to use AI
02:49 and take advantage of AI.
02:51 For example, we partner with some of the banks
02:52 to help them figure out how to create custom analytics
02:55 or AI models within their organizations.
02:58 And the third big area for us is internally,
03:00 is somewhat sort of that customer service example
03:01 that Brian discussed.
03:03 We use AI across different areas of our company
03:07 to help enhance productivity
03:09 and make our organization better and more effective.
03:12 A couple of examples on the product,
03:14 I would say for us as an organization,
03:16 we see a lot of transactions.
03:19 One of the issues in payments
03:21 that you're probably aware of, Mitch, is fraud.
03:23 Obviously, there's a lot of folks trying to mimic your,
03:26 or copy your card and commit fraud
03:29 and frankly, steal money.
03:30 So we see over 125 billion transactions a year.
03:34 We use AI models to help us prevent fraud.
03:37 And frankly, you know, for us as an organization,
03:41 that's been extremely effective.
03:43 And now we're looking at how to take advantage
03:44 of some of the next generation AI
03:46 to take advantage of that.
03:48 We also use AI quite a bit in personalization.
03:50 As a matter of fact, we own one of the leading companies
03:53 called Dynamic Heal in helping with personalization.
03:56 As you can imagine, a big part of figuring out
03:58 what message do you put in front of what customer
04:01 requires the ability to leverage AI
04:03 to identify what you do.
04:05 And Netflix is a great example of that.
04:06 When you log in, you see a different set of sort of videos.
04:10 It might be the same exact name of video,
04:11 but you see somebody, you know, holding hands
04:13 or somebody else might sort of see somebody
04:15 with a machine gun for the exact same movie, right?
04:19 So for us, personalization is a big area.
04:21 We have a lot of analytic tools.
04:23 One of them is a business experimentation product
04:25 that we use as well, where we take advantage
04:28 of the AI models to help remove bias
04:30 from some of the business experiments that we use.
04:32 The product is called our Test on Mark solution.
04:35 So, you know, broadly what I would say
04:36 is we have hundreds of data scientists.
04:38 We've been spending a lot of time on AI.
04:40 This is a big focus for us and will continue
04:42 to be a big focus going forward.