Mastercard, a global leader in payment solutions, has unveiled its latest venture, the Mastercard Small Business AI, aimed at bolstering small businesses worldwide. The initiative seeks to provide personalised guidance to small business owners, recognising their crucial role in the global economy and addressing challenges they often face with limited resources.
Key Features of Mastercard Small Business AI
- Real-Time Assistance: The AI tool offers real-time, customised guidance to small business owners, helping them navigate various challenges and stay ahead in their industries.
- Inclusive Design: Developed in partnership with Create Labs, the tool incorporates inclusive design standards and Generative AI features for a conversational experience.
- Diverse Perspectives: The tool includes licensed business content from a global media coalition, including contributions from Blavity Media Group, Group Black, Newsweek, and TelevisaUnivision, enriching it with diverse perspectives and resources.
Pilot Launch and Future Plans
The tool is set to undergo a pilot launch in the U.S. later this year, with plans for international expansion. Mastercard aims to involve additional global partners to enhance the tool’s local relevance and impact.
Raja Rajamannar, Chief Marketing and Communications Officer at Mastercard, emphasised the commitment to supporting the small business community and creating mentorship at scale. Bonin Bough, Chief Strategy Officer and co-founder of Group Black, highlighted the collaborative effort to enhance the tool for all small- and medium-sized business owners.
This initiative aligns with Mastercard’s vision to provide ongoing support and mentorship to small businesses, recognising the challenges they face in their development and growth.