MasterCard is looking at using artificial intelligence (AI) to help make businesses operate more efficiently. The global payment-technology company recently announced that it will be piloting a robot called Pepper, created by SoftBank Robotics. The robot will leverage MasterPass, MasterCard’s digital payment service solution that enables consumers to purchase from merchants.
The first test for MasterCard will be in Pizza Hut restaurants across Asia. Pepper, the robot, will attempt to provide basic, yet personal, customer service, such as taking orders and processing payments without human intervention.
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“We are excited to welcome Pepper to the Pizza Hut family,” said Vipul Chawla, managing director of Pizza Hut Restaurants Asia. “Core to our digital transformation journey is the ability to make it easier for customers to engage, connect and transact with Pizza Hut.”
According to John Sheldon, head of MasterCard’s innovation management, “We’re [Pizza Hut] not trying to replace anything [jobs].” “There will be human staff…there’s an opportunity for operational efficiencies . . . the bigger opportunity is in migrating them [employees] to higher value, experience-based activities.”
The use of sophisticated, machine-learning technology to automate simple tasks is becoming more prominent across the financial services industry. Automating certain processes that are handled by staff can help increase efficiency and customer satisfaction, as well as significantly lower costs.
In July, we’ll be delivering a webinar that will show how financial institutions can leverage modern technology to streamline loan applications, making it easier for prospects to apply and for companies to process. If you’re a company that provides customers with financial products and services, this presentation is one you don’t want to miss.