The Fintech Times’ Mark Walker recently caught up with Michael Clark, VP global head of digital transformation and futurist at Mastercard Data & Services to discuss data and its relationship with artificial intelligence (AI). Clark reflected on the oft-quoted analogy of ‘data as the new oil’, noting that the original intent behind this comparison was to highlight the need for data refinement to unlock its true value, rather than simply viewing it as a raw material. He stressed that data should be regarded as a valuable asset, akin to a utility like water, which has both intrinsic worth and practical applications in our daily lives. He also explained that the rise of AI has helped to elevate the importance of data management, as organisations have realised the need to better understand and utilise their data resources. Michael Clark, VP global head of digital transformation and futurist at Mastercard Data & Services The conversation then shifted to the challenges faced by the financial services industry, where the complexity of legacy systems and data silos has hindered the effective deployment of AI. Clark outlined the importance of data quality and the requisite skills to interpret AI-generated insights, underscoring the need for […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
