Visa, a global payment platform, will contribute to artificial intelligence (AI) in commerce and settlements. This is expected to help in setting up a new fund to invest in generative AI ventures, stated Cointelegraph.
On October 2, 2023, Visa announced a new $100-million generative AI initiative. The initiative is believed to invest in companies focused on developing generative AI technologies and applications related to commerce and payments, Cointelegraph added.
“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,” Jack Forestell, chief product and strategy officer, Visa, explained.
Furthermore, Visa’s latest step into generative AI comes after the efforts to apply AI technology in the company’s ecosystem, Cointelegraph concluded.
(With insights from Cointelegraph)
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