Mastercard joins U.S. AI Safety Institute Consortium to guide national AI standards

Today Mastercard announced it is joining with the U.S. Department of Commerce to help establish the U.S. AI Safety Institute Consortium (AISIC), which will focus on creating new, trustworthy AI standards. The consortium will bring together a collection of AI developers, users and researchers and will include Fortune 500 companies, academic teams, nonprofits and other U.S. government agencies.

The goal of the group will be to research and provide guidance on AI safety issues, which will underpin future standards and policies. The members will help ensure the Commerce Department’s National Institute of Standards and Technology can collaborate closely with the broader AI safety community on best practices, learnings and new developments. The full list of participating organizations can be found here.

“To unlock AI’s full potential, we need to ensure there is trust in the technology,” Mastercard CEO Michael Miebach says. “That starts with a common set of meaningful standards that protects users and sparks inclusive innovation. The public-private partnership enabled by AISIC will be critical in helping to achieve this goal and reinforce responsible AI.”

Mastercard believes that technology development must always start with foundational practices that respect and protect individual rights and society. That’s why it has also developed and continually evolves a set of robust principles to hold the company to the highest standards of data and tech responsibility and share its experiences with partners, regulators and policymakers. Mastercard looks forward to collaborating in the same way through AISIC.

Read more about Mastercard’s Data & Tech Responsibility Principles here.