Visa, the global payments technology company, announced on October 2, 2023, that it is investing $100 million in generative AI companies. The investment is part of Visa’s strategy to accelerate the adoption of generative AI technologies and applications that will impact the future of commerce and payments.
Generative AI is a type of artificial intelligence that can create new content, such as text, images, and code. It is still in its early stages of development, but it has the potential to revolutionize many industries, including commerce and payments.
Visa is also interested in investing in generative AI infrastructure companies. These companies are developing the tools and technologies that will make it easier for businesses to develop and deploy generative AI applications.
Generative AI is an exciting technology that has the potential to reshape how we live and work, and meaningfully change commerce in ways we need to understand. While much of generative AI so far has been focused on tasks and content creation, this technology is expected to have a transformative impact on the future of commerce and payments. Visa’s investment in generative AI companies is a strategic move to stay ahead of the curve and continue to innovate in the payment technology space.
Visa’s investment in generative AI companies is a significant move that highlights the company’s commitment to innovation and staying ahead of the curve in the payment technology space. The investment will help to accelerate the development of generative AI technologies and applications that will impact the future of commerce and payments.