< Previous20 Vol. 24/16, 16 – 31 December 2023 CO VER ST OR Y 20 Vol. 24/16, 16 – 31 December 2023 MASTERCARD: ADVANCING THE FUTURE OF DIGITAL SECURITY In today’s global economy, cybercrime reigns as the world’s third- largest economy, behind only China and the US. Despite this stark reality, Ajay Bhalla Mastercard’s president of Cyber and Intelligence Solutions explains that Mastercard’s robust ecosystem security integrates biometrics, generative AI and cutting-edge technologies to transform payments into a seamless and secure experience Words by Saadiya Ahmad As digitisation continues to perme- ate into nearly every aspect of our daily lives, Ajay Bhalla, president of Mastercard’ Cyber and Intelligence Solutions explains that there are several mega trends contributing to the rise in cybercrime, including rapid digitisation, unprecedented connectivity, as well as the exponential growth of data. He adds, “Master- card employs a multi-layered security strategy with four layers in which if one layer encoun- ters a failure, the subsequent layer seamlessly takes over. We scrutinise transactions from multiple angles, including observing unusual shopping habits, preferences, and locations. This thorough analysis enables the identi ca- tion, detection, and prevention of cybercrime.» As Mastercard incorporates cutting-edge technologies behind the scenes, it is the very reason why consumers can shop seamlessly as well as feel reassuringly secure. In fact, in the past ve years, Mastercard has invested over $7 billion in their cyber security capabilities, alongside multiple acquisitions. “We have bought seven companies in this space which have helped us to create and fast track many of these solutions and have also invested and contributed to the launch of more than 20 cyber security start-ups,” he says, with the recent acquisition of European based AI security firm, Baffin Bay, with whom Mastercard has merged existing data and AI capabilities to create an AI cyber shield solution to prevent customer breaches. “In today’s world with the kind of data that we see, AI is absolute critical component of our cybersecurity strategy.” Biometrics strikes the right balance According to Bhalla, security has always been imperative to Mastercard long before the cyber threats of today came into existence. The challenge with the previous older style arabianbusiness.com 21 AJAY BH ALL A arabianbusiness.com 21 AJAY BH ALL ACO VER ST OR Y 22 Vol. 24/16, 16 – 31 December 2023 cating a local marketplace ambience within ecommerce, Mastercard prior- itises security. “Mastercard simpli es the user experience by eliminating the need for consumers to repeatedly reintroduce themselves to online businesses, says Bhalla, and once approved, the journey remains consis- tently seamless. Mastercard’s AI applications According to Bhalla, arti cial intelli- gence is the most de ning technology of our time, especially with its ability to redefine processes as well as increase productivity with speed and accuracy. He explains, “Mastercard is harnessing AI to build trust in the digital economy, and it is embedded in almost everything we do in our cyber and intelligence area. We have spent years really re ning how we implement our AI technology to create a stunning consumer experi- ence that is both safe and secure. Very early on, Mastercard acquired ‘Brighterion’, California based company which specialises in risk management technologies in AI. “We also have ‘Safety Net’ which predicts cyber-attacks at banks and actually prevented over $20 billion of fraud in the past 12 months because of the sophisticated AI that it uses,” he says. “Very recently in the UK, launched our Consumer Fraud Risk solution to predict real time account to account payments unintentionally being paid to scams, an immense global problem that runs into billions of dollars.” Backed by AI technology, this solution is on track to save UK banks over $100 million in fraud each year. Master- card is also using AI technology across its resiliency solutions, ensur- ing uninterrupted service to card- holders in the event their bank is attacked or faces a disruption. Additionally, Mastercard is spear- heading innovation by integrating generative AI across its operations, employing it to generate synthetic fraud transactions to predict weak- nesses in existing systems, says Bhalla. “We are using it to create anti- money laundering reports and also for customer service solutions,” he says, so Mastercard is embedding genera- tive AI in many of their solutions to provide an intuitive customer journey as well as for fraud, fraud prevention and for cyber-attacks. “We believe that generative AI is going to create the next generation of payment experi- ences for the customer.” The importance of digital identity solutions Mastercard’s mission with blockchain and digital assets is to help empower of security was consumers had to create hard-to-remember passwords along with other complicated methods which he says ultimately made consumers feel even more insecure because it was clunky as well as incon- venient. “Our aim is to have conve- nience and security work hand-in- hand, and biometrics is an essential tool for us to make payments simple, safe and intuitive.” Mastercard has implemented behavioural biometrics capabilities, encompassing facets such as typing styles as well as how you hold your phone. This innovative technology discerns the authenticity of consumers, distinguishing between genuine users and bots. Ensuring digital continuity within a safe and seamless customer experi- ence, contactless payments now make up 63 percent of Mastercard’s global in-person purchases. Beyond repli- 70% Mastercard’s research demonstrated that over 70 percent of consumers already use biometrics and nd it safe, simple, and trustworthyarabianbusiness.com 23 AJAY BH ALL A people, businesses, and governments to better understand and trust how these technologies can be used. While Master- card bene ts from its unique vantage point due to its extensive scale and reach, Bhalla points out that irrespec- tive of how people pay, they will always require a trusted partner to secure these platforms and also to establish clear rules. “Last year, we launched Crypto Secure, a solution for banks to provide secure crypto trading capabil- ities which enabled banks to accurately identify exchanges across an ecosystem of over 2,400 providers,” he says. Mastercard is helping to create a secure ecosystem with biometrics, which is already used and trusted by billions. “When we open our phones, we are using biometrics, so whether paying from your watch, laptop, mobile or other, the experience should be seam- less for the entire journey.” Master- card’s research demonstrated that over 70 percent of consumers already use biometrics and nd it safe, simple, and trustworthy. “Our goal is to embed it in all the technologies because it creates a seamless user experience.” Mastercard’s sustainability efforts Mastercard has entered the recy- cling realm with a global programme enabling people to dispose of expired cards sustainably and securely. It’s first partnership is with HSBC in the UK. With this, cardhold- ers’ can safely dispose of their expired cards in dedicated collection boxes, where the cards are shred- ded, and their chips are destroyed to protect sensitive information. In fact, Mastercard has been a champion within the realm of sustain- ability in multiple ways. “Key to this is our Sustainable Card Programme which has signed up over 470 institu- tions across 90 countries,” explains Bhalla, in addition to over 340 million recycled and biomaterial cards which are now in use across their network. He adds, “This year, we have acceler- ated our e orts by announcing that by January 2028, all newly produced Mastercard payment cards will be made with more sustainable materials with a vision that every card will move to these bio-sourced materials within the next ve years.” Mastercard is harnessing AI to build trust in the digital economy, and it is embedded in almost everything we do in our cyber and intelligence area Building a trusted roadmap of digital payment solutions In today›s digital landscape, Bhalla explains that globally, organisations are strategically moving their oper- ations online. “Very clearly, these technologies can be a trusted road- map to control cyber problems and fraud.” Securing digital interactions is critical, and digital identity plays a vital role with this. “So, whether through biometrics, device authen- tication, or other means, ensuring the safety of the digital ecommerce ecosystem is crucial.”24 Vol. 24/16, 16 – 31 December 2023 SUSTAINABILIT Y The quest for rede nition Reshaping the Middle East hospitality and tourism experience with data-driven video technology As the world navigates the post-pandemic age, the UAE and the wider Middle East region are leading the charge in rede ning travel, o er- ing visitors journeys that are smoother, safer, and more memorable than ever before. Enhanced guest experiences The region's commitment to provid- ing impeccable guest experiences has found a powerful ally in video tech- nology. Museums, heritage sites, and attractions leverage advanced analyt- ics to monitor crowd flow, identify peak hours, and optimise resource allocation. Imagine strolling through the bustling streets of Dubai or visit- ing an ancient archaeological site in Jordan and never encountering a bottleneck or lengthy queue. With BY RAHUL YADAV, CHIEF TECHNOLOGY OFFICER, MILESTONE SYSTEMS HOSPITALIT Y Transformation. The Middle East is propelling the tourism and hospitality sectors into a new era. In the heart of the Middle East, where hospitality is a tradition as old as time, a new era is dawning. The region's tourism and hospitality industry embraces groundbreaking advancements in video technology and analytics, setting the stage for unparalleled guest experiences, heightened safety measures, and unprecedented operational e ciency. According to IndustryArc, with every travel company using at least one AI-powered technology, the hospital- ity industry's compound aggregate growth rate CAGR is expected to reach 9.7 percent by 2026.arabianbusiness.com 25 HOSPITALIT Y As the world navigates the post-pandemic age, the UAE and the wider Middle East region are leading the charge in rede ning travel. insights from video analytics, author- ities can craft layouts that enhance visitor journeys, offering seamless navigation and minimising wait times. Rede ned safety Safety has consistently remained a top priority for travellers, and in the Middle East, there's a notable e ort to elevate safety standards through innovative solutions. Public safety is being advanced in the region by using data-driven video technology, which employs analytics to extract valuable insights from video data. Video technology is making a signi cant impact, from the modern terminals of the UAE's international airports to the historic markets of Marrakech, by swiftly detecting inci- dents and providing real-time alerts portation, travellers can spend more time savouring the Middle East's rich cultural tapestry. Contactless solutions As the world reimagines travel in the wake of the pandemic, the Middle East is leading the charge in contactless solutions. According to a recent global Hilton survey, more than half of the respondents (53 percent) con rmed they are most concerned about having a more accessible travel experience in 2023. UAE is, thus, increasingly addressing this requirement by adopting faster, contactless technol- ogy, enabling a better travel experi- ence for travellers. In the UAE's luxu- rious hotels, guests experience contactless check-ins and keyless entry that rede ne convenience and safety. From the deserts of Oman to the bustling markets of Qatar, the region's hospitality pioneers are craft- ing experiences prioritising well-be- ing without compromising on luxury. A transformative journey ahead The UAE and the broader Middle East region are propelling their tourism and hospitality sectors into a new era. The synergy between video technol- ogy and analytics is creating a travel landscape that marries tradition with innovation, ensuring guest experi- ences that are both memorable and secure. With a rm commitment to operational excellence and guest satisfaction, the Middle East's hospi- tality industry is poised to set new benchmarks on a global stage. As the world sets its sights on the horizon of post-pandemic travel, the Middle East emerges as a beacon of innovation, embracing video technology to rede ne hospitality. From welcoming guests with open arms to ensuring their safety through vigilant technology, the region is weaving a narrative of trans- formation that will resonate for years. Through the lenses of video technol- ogy, the UAE and the Middle East are inviting travellers to embark on jour- neys that are not only remarkable but also set to become the gold standard for hospitality worldwide. Rahul Yadav. Chief Technology Of cer, Milestone Systems. that are transforming security meas- ures. It e ectively identi es trespassers and raises alarms about suspicious objects, resulting in rapid responses that ensure the safety and well-being of all individuals. In a constantly chang- ing world, the vigilance of video tech- nology reinforces the region's commit- ment to the safety of travellers. Ef ciency unleashed Given that the vibrant cities in the Middle East draw in more than 44 million visitors each year, adopting video technology for tasks such as tra c management becomes neces- sary. Real-time analysis of video feeds allows urban authorities to understand traffic patterns, make informed adjustments, and alleviate congestion. The result? A stress-free journey through cityscapes that seamlessly blend tradition and modernity. With streamlined trans-26 Vol. 24/16, 16 – 31 December 2023 F & B Food for thought: Navigating responsible F&B in hospitality It's imperative that we adopt sustainable sourcing practices that balance ef cient harvesting with the preservation of animal populations and crops There is no question that the methods employed in produc- ing and consuming food are vital in addressing climate change. But achieving responsible food produc- tion requires commitment, constant innovation and a thorough analysis of each stage of the food production process. Getting this right will ensure practices are sustainable, equitable and considerate towards both the environment and the communities involved in the value chain. Not everyone may know that food production accounts for over a quar- ter of global greenhouse gas emis- sions, while irrigated agriculture uses about 60 percent of the water available for human use. It is also estimated that while 90 percent of the world’s sh- eries are harvested right up to or BY THOMAS MEIER, CHIEF OPERATING OFFICER OF JUMEIRAH GROUP F & B arabianbusiness.com 27 F & B Achieving responsible food production requires commitment, constant innovation and a thorough analysis at each stage beyond their ecological limits, 35 percent of all seafood catches are either lost or wasted along the supply chain – meaning 1 in 3 fish caught never makes it to the plate. A disturb- ing gure when you consider the envi- ronmental impact behind it. There- fore, it's imperative that we adopt sustainable sourcing practices that balance e cient harvesting with the preservation of animal populations and crops. We also cannot talk about ethical food production without considering the well-being of people involved in the production process. This encompasses fair wages and working conditions, as well as nurturing local communities to help produce economic growth. Areas that need to be carefully considered through responsible supply chain. There are also now many innova- tions to help us source responsibly. In two of our restaurants – Rock sh at Jumeirah Al Naseem and Pierchic in Jumeirah Al Qasr, we’ve introduced tech platform ‘Seafood Souq Trace’ to source fully traceable seafood and give our guests full visibility of its journey to the plate. Similarly, we’re using the Agri-Tech platform ‘Fresh on Table’ across our portfolio to source more local produce, saving 42 million food miles annually and thereby reducing CO2 emissions. We have also initiated our rst on-site hydroponic farm at Jumeirah Zabeel Saray to supply lettuces and herbs to restaurants, using 70 percent less water for each yield, compared to traditional farming techniques. But we can’t just focus on produc- tion. Equally important is what happens at the end of the chain with wasted food having tremendous envi- ronmental and economic impact. In the UAE alone, an estimated AED 6 billion of food is wasted each year, ending up in land lls, according to the UAE’s Minister of Climate Change and Environment, HE Mariam Al Mheiri. Many forget that we already have the blueprint for optimising waste – in nature – where everything operates within a closed-loop system. Each output becomes a new input, ensuring nothing is wasted. What’s important is that we take heed of lessons learned from our natural environment and harness innovations that mirror nature’s e cient circular processes. Arti cial intelligence can be a big help here for re ning food procure- ment and waste. For example, in 2022, we piloted the Winnow software system in two of our restaurants at Jumeirah, to enable our kitchens to better plan their orders and reduce overproduction. Last year, this initia- tive helped us cut food waste by 20,000kg, corresponding to a reduc- tion of 85 tonnes in CO2 emissions — equivalent to saving nearly 50,000 meals. In 2024, Jumeirah is set to expand the deployment of the Winnow system to 12 additional properties, a strategic step that will integrate this Thomas Meier. Chief Operating Of cer, Jumeirah Group. For us in the hospitality industry, food and beverage (F&B) is a huge part of what we do, so our responsibility to nd ways to minimise the impact and help tackle climate change requires equal attention. However, transition- ing to more sustainable practices comes with its own set of challenges, including information transparency, budget constraints and alignment with consumer expectations. Educa- tion is key here so that everyone understands why things like serving local or in-season produce is bene - cial for the environment. Of course, in arid or remote desti- nations procuring from outside is inevitable but there are still options to reduce the impact, such as sourcing fruit and vegetables that are grown outdoors versus those grown in carbon intensive, heated greenhouses. Remarkably, the UAE has made signif- icant strides in enhancing food secu- rity – this progress is evident through initiatives like supporting local farmers and adopting advanced hydroponic farming techniques, as highlighted in the National Dialogue for Food Secu- rity, a recent campaign by the Ministry of Climate Change and Environment.28 Vol. 24/16, 16 – 31 December 2023 F & B sustainable technology across 70 percent of our UAE portfolio. E ective waste management is also crucial; without it, waste could convert into methane, a gas with a climate impact 25 times greater than CO2. Composting and aerobic diges- tion systems can help with this. If surplus food is not usable in our sta canteens or cannot be redistributed to the community, we put it into an aerobic digester called the Orca which breaks it down into a liquid that goes back into the main sewage system. This is then processed into inputs for biogas and fertilisers. The Orca, together with our two composting systems at Madinat Jumeirah, are treating 81 tonnes of organic waste per year. In addition, we are trialling social programmes in partnership with Ne’ma – the UAE’s national food loss and waste initiative. For example, at Jumeirah Emirates Towers, through- out Ramadan when food waste is at an annual high, we introduced behav- ioural nudges and discreet opera- tional changes to help reduce over consumption. This initiative led to a 15 percent reduction in food waste during that period. Building on this success, the project will roll out across all Jumeirah properties in the next few months. We also conducted a 13-week trial at our sta canteens across three of our Dubai properties, where we achieved a 44 percent reduction in food waste. These initi- atives will help support Ne’ma’s recently launched action plan to reduce food loss and waste in the UAE by 50 percent by 2030. There is no doubt that there is a huge opportunity for the hospitality industry to make a tangible di erence, 81 tonnes of organic waste are treated at Madinat Jumeirah per year. Food production accounts for over a quarter of global greenhouse gas emissions.arabianbusiness.com 29 F & B and while sustainable solutions may have a higher initial outlay, there will be longer-term cost savings associ- ated with taking a bigger picture view. And ultimately, if we don’t change, the cost to the environment and our busi- nesses will be far greater. From improved food security, promoting a safer food supply and scaling up small businesses to creating employment opportunities and nurturing a new generation of environmentally conscious consumers, the bene ts are plentiful, and we need to act now. What I do know though is that we can’t act alone, and the importance of industry peer and cross-sector collab- oration cannot be overstated. As an industry, we need to work together and in partnership with environmen- tal organisations and not-for-pro ts like the Global Tourism Plastics Initi- ative, WWF UAE Alliance for Climate Action and the Sustainable Hospitality Alliance to develop practical resources to help all hoteliers operate responsi- bly. It’s also paramount that we educate our teams so that they too uphold these practices. By prioritising the training and growth of every colleague, we empower them to become advocates for sustainable F&B practices, fostering a collective e ort that addresses this daily responsibility and drives positive change within the hospitality sector. With COP28 happening in Dubai for the culmination of the UAE’s Year of Sustainability, now is our opportu- nity to take stock of how far we’ve come and set targets for a better future. Always remembering that even small changes to the way we operate can make a big di erence for all. E ective waste management is crucial; without it, waste could convert into methane, a gas with a climate impact 25 times greater then CO2 Next >