Mastercard, Microsoft Team On Digital ID

Mastercard and Microsoft announced Monday (December 3) a strategic collaboration to improve how people manage and use their digital identity.

In a press release, Mastercard and Microsoft said that currently verifying an identity online is dependent on physical or digital proof which is managed by a central party. That dependence on a central party puts a big burden on individuals who have to remember hundreds of passwords for different identities. What’s more, the companies argued, people are being subjected to more complexity in proving their identity and managing that data. To get around that, Mastercard and Microsoft have developed a secure, instant way to verify an individual’s identity with whomever they want, whenever they want.

“Today’s digital identity landscape is patchy, inconsistent and what works in one country often won’t work in another. We have an opportunity to establish a system that puts people first, giving them control of their identity data and where it is used,” Ajay Bhalla, president, cyber and intelligence solutions for Mastercard said in the press release. “Working with Microsoft brings us one step closer to making a globally interoperable digital identity service a reality, and we look forward to sharing more very soon.”

According to Mastercard and Microsoft, providing access to a universally-recognized digital identity could result in new and enhanced experiences for people as they interact with businesses, service providers and their community online. Some of those enhancements include improved speed in the application identification process when opening a new bank account or applying for a loan or opening a payment service account, more personalized shopping online and in stores and simplified interactions with government agencies and services such as filing taxes or applying for a passport.

“Digital identity is a cornerstone of how people live, work and play every day,” Joy Chik, corporate vice president for Microsoft’s Identity Division, said in the same press release. “We believe people should be in control of their digital identity and data, and we’re thrilled to first work with Mastercard to bring new decentralized identity innovations to life.”


Upwork: Demand for AI Talent Drove Record Revenue in 2024

Work marketplace Upwork earned record revenue in 2024 and attributed its gains in part to artificial intelligence (AI).

In an earnings release and other materials issued Wednesday (Feb. 12), the company highlighted AI innovations it added to its marketplace platform and AI talent the platform connects with its clients.

“We’ve rapidly unlocked demand for AI-related work on our platform,” Upwork President and CEO Hayden Brown said in prepared remarks for the company’s quarterly earnings call.

Upwork reported full-year revenue of $769.3 million, which marked a 12% year-over-year gain and an all-time high, according to the earnings release.

The company achieved this gain during a year in which the broader staffing industry saw a 9% decline in revenue, Brown said in her prepared remarks.

During the year, the gross services volume (GSV) from AI-related work grew 60% and the number of clients engaging in AI-related projects grew 42%.

In addition, in 2024, the hourly earnings of freelancers engaged in AI-related work were 44% higher than those of other freelancers, per the release.

AI has been the fastest growing major category on the Upwork platform for several quarters, with clients seeking talent in prompt engineering, AI integration, generative AI modeling, and data labeling and annotation, according to an investor presentation released Wednesday.

During the Q&A portion of the earnings call, Brown said Upwork has grown and “shape-shifted” to meet the emerging demand for AI talent just as it did in the past, when there was newly created demand for social media managers and mobile developers.

“We are also leveraging AI on our platform to underpin the evolution of predictive and delightful conversational customer experiences,” Brown said in her prepared remarks.

Upwork enhanced its platform in April by adding an AI assistant called Uma that performs tasks like creating tailored proposal drafts for freelancers, evaluating candidates for clients, and scoping projects and designing optimal teams of experts for larger clients, according to the earnings release and the presentation.

The firm also acquired AI-native search-as-a-service company Objective, a move it said allowed Upwork to enhance the search and match performance of its platform, strengthen the company’s AI and machine learning teams, and continue to develop new capabilities for Uma.

“As the AI work tide builds, organizations of all sizes are seeking out more flexible talent models that match their needs for new and emerging skills, with partners who integrate cutting edge AI technology and valued human workers seamlessly and at scale to rapidly deliver on their priorities,” Brown said in her remarks.

“At the same time, professionals across geographies, specialties and industries want digitally powered ways of working that give them easy access to more autonomy, flexibility and earning power.”