Hubtel has announced the launch of its new Artificial Intelligence (AI) Lab. This dedicated research and development unit will harness the power of Artificial Intelligence (AI) especially machine learning to enhance user engagement, build trust and ultimately increase revenue for both Hubtel and businesses using it. its payment processing platform.
“Hubtel’s vision is to become Africa’s most useful company,” said Augustine Gyawu Adjei, Head of Engineering at Hubtel. “The AI Lab represents an important step towards achieving this vision by harnessing the transformative potential of artificial intelligence. We believe this technology will significantly improve the user experience on our platforms, enhancing trust and confidence in our partners and leading to sustainable development.” He added.
The Hubtel AI Lab will focus on the use of areas such as machine learning, with a particular focus on:
• Enhancing user engagement: By intuitively recommending relevant products and services, the AI lab aims to increase user interaction with Hubtel’s apps and services.
• Strengthening security: Leveraging artificial intelligence solutions, the lab will strengthen fraud detection capabilities, protecting both Hubtel and its customers from financial losses.
• Improve monetization: Using AI-based credit assessments, the lab will enable Hubtel to expand its reach and provide financial services to a wider population.
The Lab’s immediate goals include fully deploying the revolutionary fraud detection engine by the end of the first quarter of 2024 and creating a credit rating solution by the second quarter. Progress will be monitored through user engagement metrics, fraud reduction rates and accuracy of credit ratings.
In the long term, Hubtel’s goals for the AI Lab are ambitious. The company envisions the Lab to become a center of excellence in artificial intelligence, not only within Hubtel but across Africa. This mission includes:
• Driving global innovation: Hubtel aims to develop AI solutions that can be scaled globally, positioning the company as a leader in the field.
• Fostering entrepreneurship and economic growth: The Lab will create an ecosystem where artificial intelligence fuels innovation and economic growth across the continent.
• Influencing Ethical AI Practices: Hubtel is committed to promoting the responsible and ethical development of AI in the technology industry.
In a meeting with Hubtel CEO Alex Bram, he was enthusiastic about the prospects that AI opportunities hold for the company, saying “The AI Lab is not just a smart technology, but delivering real value to users at Hubtel . Imagine protecting your finances with smarter fraud detection, optimizing utility consumption to help protect our core merchants’ revenue through AI-based insights, and unlocking new financial opportunities for people through accurate credit scores. This is the power we harness at Hubtel AI Lab.”
The launch of the Hubtel AI Lab also represents a major development not only for the company but also for the Ghanaian tech landscape. By harnessing the power of artificial intelligence, Hubtel is poised to revolutionize user experiences, enhance security and drive sustainable growth, paving the way to fortify the path of a successful digital economy for Ghana and Africa at large.