Mastercard braces for retail's AI-fueled future

Hyperpersonalized and machine-to-machine commerce driven by 5G, IoT and AI will reshape retail as we know it , says Jorn Lambert, the company’s executive vice president of digital solutions.

Mastercard braces for retail's AI-fueled future
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The rise of cashless and cardless retail transactions suggests consumers are growing comfortable with paying for products from accounts linked to portable devices. How quickly these commerce modalities go mainstream is an open question, but Mastercard is leaving nothing to chance.

The global payment network is not only preparing for digital commerce ruled by recommendation systems fueled by machine learning systems but also war-gaming for the arrival of 5G, as well as the proliferation of IoT and AI, says Jorn Lambert, Mastercard's executive vice president of digital solutions.

This short- and long-term view sketches out a vision of payments revolutionized by machine-to-machine commerce and hyperpersonalized transactions, a reality Lambert expects will become mainstream in the next three to five years. Here’s how Mastercard sees retail shaking out in the years ahead — and the steps it’s taking to keep an edge.

The future of retail: Automated and hyperpersonalized commerce

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