Visa, which claims to be a pioneer of AI use in payments since 1993, considers this initiative an extension of Visa’s leadership in using AI to drive innovation in payments, create value for partners and clients, and enable and empower global commerce.
This generative AI ventures initiative will invest in the next generation of companies focused on developing generative AI technologies and applications that will impact the future of commerce and payments.
This initiative will be led by Visa Ventures, the global corporate investment arm of Visa. Visa Ventures has been investing in and partnering with companies driving innovation in payments and commerce since 2007.
David Rolf, Head of Visa Ventures, Visa Inc. said, "While much of generative AI so far has been focused on tasks and content creation, this technology will soon not only reshape how we live and work, but it will also meaningfully change commerce in ways we need to understand."
Earlier in 2018, Visa had launched $100 million Venture Fund for investment in fintech startups.
Advertisements