Visa Initiative to Invest $100 Million in Generative AI Ventures
Generative AI is a subset of artificial intelligence that can create text, images, and content based on data and prompts.
Jack Forestell, Visa's Chief Product and Strategy Officer, highlighted the profound impact of generative AI
David Rolf, Head of Visa Ventures, sees generative AI as most transformative technologies and is interested in making smaller early-stage investments.
Visa aims to support companies using generative AI to address challenges in commerce, payments, and fintech, including B2B processes and infrastructure.
Responsible AI use, in line with Visa's policies, is a key consideration for potential investments.
Visa's recent appointment of Marie-Elise Droga as the head of fintech enhances collaboration between Visa and Visa Ventures
This investment marks a significant step in transforming generative AI technologies in commerce and payments.