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Artificial intelligence is a transformative technology that has the potential to revolutionize industries. That includes small businesses, which are the heart of the economy, representing more than 90% of businesses globally and employing half of the world’s workers
When Mastercard created the Center for Inclusive Growth in 2014, we understood that the digital economy—the world’s economy—would only work when the smallest of businesses could access the tools and services that supported their success. Those digital tools and services at the time included loans, data, and mobile money. They have now expanded to include AI, tech literacy, and platforms.
As more organizations build AI systems and platforms, we need to ensure that what is created serves the needs of all small businesses. That can only happen when organizations include inputs from diverse sources from the outset, while minimizing and removing inequities as they emerge.
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