Visa has launched an advisory practice to help clients unlock the potential of artificial intelligence.
The advisory service will be a Visa Consulting & Analytics (VCA) component. It will concentrate on “delivering actionable insights and recommendations to enable clients to harness generative AI and unlock the potential of AI,” per a press statement.
Visa introduced the new practice and several new services to enable clients to comprehend the potential role of generative AI at the corporate level, citing its “30-year AI legacy.”
According to the news release, the service will be provided via VCA’s global network of “over 1,000 consultants, data scientists, and product experts in 75 offices on six continents.” The practice will provide a comprehensive range of client services, according to Carl Rutstein, worldwide head of consulting services at Visa:
“AI is not just reshaping industries worldwide – it’s revolutionizing them, and the payments sector is at the forefront of this transformation. Visa doesn’t just use AI to help improve payment experiences – our Advisory business is also harnessing it to empower our clients to grow and redefine how they serve their customers through acquisition, engagement, retention, and risk management.”
This announcement follows the company’s October 2 introduction of a $100 million AI innovation fund. The fund was established to encourage research and development in generative AI.
In the rapidly developing field of machine learning known as “generative AI,” models created to generate content, such as text, photographs, audio, or video files, that resembles that of a human being are used, but only within the parameters of a predetermined training set.
The most well-liked models—ChatGPT from OpenAI and Claude 2 from Anthropic—have been extensively embraced for both individual and business use.
