Visa launches global AI consulting practice focused on generative systems
Visa announced the launch of its new Global Artificial Intelligence Consulting Practice on November 8. The advisory service will be part of Visa Advisory & Analytics (VCA) and will focus on “providing actionable insights and recommendations to empower clients,” according to a press release. To unlock the potential of AI and use generative AI.
Citing its “30-year AI legacy,” Visa announced the new approach alongside new services aimed at empowering customers to realize the potential role of generative AI at the enterprise level.
Using 30 years of knowledge and experience, Visa is launching an AI Advisory Practice, a service that helps customers harness the power of #AI and #genAI to help improve payment experiences and maximize spend. Learn more: pic.twitter.com/RAgjAYgrnU
— VisaNews (@VisaNews) November 8, 2023
The service will be covered by VCA's global network of more than 1,000 consultants, data scientists and product experts in 75 offices on six continents, according to the press release.
Carl Rutsten, Head of Global Consulting at Visa, said the practice offers a full range of client services.
“AI is not only shaping industries, it is transforming them around the world, and the payments sector is at the forefront of this transformation. Visa isn't just using AI to improve payment experiences – our advisory business is using it to enable our clients to grow and redefine how they serve their customers in acquisition, engagement, retention and risk management.
This news comes on the heels of a $100 million AI venture fund launched by the company on October 2. As reported by Cointelegraph, the fund is designed to support innovation and development in the area of generative AI.
Generative AI is a growing field of machine learning that involves using models designed to produce human-like content such as text, images, audio or video files within the constraints of a specific training set. The most popular models, including OpenAI's ChatGPT and Anthroponic Cloud 2, have been widely adopted for personal and enterprise use.
Related: IBM Launches $500M Fund to Develop AI for Enterprise
