Visa has been using AI in payments since 1993 and believes that generative AI will not only reshape how we live and work, but also significantly change commerce. David Rolf, head of Visa Ventures, stated that generative AI could be one of the most transformative technologies of our time. Further details on Visa's investment plans are yet to be disclosed.
Key takeaways:
- Visa plans to invest $100 million in companies developing generative AI technologies and applications that will impact the future of commerce and payments.
- The investments will be made through Visa Ventures, Visa's global corporate investment arm.
- Visa has been using AI in payments since 1993 and believes generative AI, which can generate text, images or other content, will significantly change commerce.
- David Rolf, head of Visa Ventures, said that generative AI has the potential to be one of the most transformative technologies of our time.