According to Cointelegraph, Visa announced the launch of its new global AI advisory practice on November 8. The consultation service will be part of Visa Consulting & Analytics (VCA) and will focus on providing actionable insights and recommendations to empower clients to unlock the potential of AI and utilize generative AI. Visa cited its 30-year AI legacy as it announced the new practice alongside a range of new services related to empowering clients to understand the potential role of generative AI at the enterprise level.
The service will be tended by VCA's global network of over 1,000 consultants, data scientists, and product experts in 75 offices on six continents. Carl Rutstein, global head of advisory services at Visa, said the practice will offer a full suite of client services, including acquisition, engagement, retention, and risk management. He emphasized that AI is revolutionizing industries worldwide, with the payments sector at the forefront of this transformation.
This news follows the company's launch of a $100 million AI venture fund on October 2, which aims to support innovation and development in the generative AI space. Generative AI is a growing sector of machine learning that involves the use of models designed to produce human-like content such as text, images, audio, or video files within the constraints of a specific training set. Popular models like OpenAI’s ChatGPT and Anthropic’s Claude 2 have been widely adopted for personal and enterprise use.