DLD Conference: Putting AI to Work on Our Biggest Challenges

16. Januar 2024 | Von Juliane Schmitz-Engels

Shamina Singh, President of the Mastercard Center for Inclusive Growth, spoke at the DLD Conference in Munich Friday, January 12th, about artificial intelligence and the role of companies in harnessing its power for good. The annual event is one of Europe’s top innovation conferences, something of a “mini” Davos that takes place only days before the World Economic Forum.

Hosted by Steffi Czerny and Hubert Burda Media, one of Germany’s leading publishing houses, the invitation-only event gathers global thought leaders, entrepreneurs, investors, and tech enthusiasts to address pressing global challenges. DLD Munich 24, themed "DARE TO KNOW," explored AI-driven technological shifts and their impact on industries and societies.

Shamina was joined onstage by Werner Vogels, Chief Technology Officer at Amazon and VP with responsibility for innovation. At Amazon, Werner has driven the company’s early adoption of AI, allowing for the development of AWS to the force it is today in cloud computing. The panel was moderated by Ina Fried, chief technology correspondent at Axios. She authors the daily Axios AI+ newsletter and is a frequent commentator on technology matters in broadcast media.

Titled “Putting AI to Work on Our Biggest Challenges”, Shamina, Werner and Ina explored key questions around the use and future of AI, including the role companies and organizations play in using AI for the benefit of society and how companies can educate on the opportunities and risks of the technology. 

Referencing what is currently at stake, Shamina opened the discussion by saying that “we have a unique moment to define incentives that propel AI technology for better, not for worse. We have to make this technology work for us, not against us.” Shamina spoke about Mastercard’s use of AI technology to enhance cybersecurity across the payments universe: Mastercard’s AI solutions have saved $35 billion in fraud prevention in the past three years alone. Werner shared Amazon’s view on a similar issue, saying that we live in a world where, more than ever, the “good guys” need to stay one step ahead.

It is a priority for the Mastercard Center for Inclusive Growth to ensure that all segments of society share the benefits of the current revolution. This is why it has partnered with the Rockefeller Foundation on Data.org, which helps social sector organizations to realise the power of data. The fascinating discussion ranged across topics like the acceleration of generative AI, overcoming biases in LLMs, the opportunities and challenges AI presents for cybersecurity, and how companies like Mastercard and Amazon can create sustainable solutions to ensure AI benefits everyone.

Photo of Juliane Schmitz-Engels
Juliane Schmitz-Engels, Director, Communications Germany and Switzerland