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Visa Rolls Out Global AI Advisory Services to Help Clients Embrace AI
Global payments giant Visa Inc (NYSE: V) has introduced its new global artificial intelligence (AI) advisory service to assist clients in harnessing the power of AI solutions for their businesses and understanding the potential role of generative AI.
According to an official press release, the AI advisory service will be offered by Visa Consulting & Analytics (VCA), the payments consulting unit of the company.
The move will draw upon the company’s extensive 30-year AI legacy and substantial investment in this transformative technology.
Visa to Help Customers Explore AI Potential for Their Businesses
With its latest AI advisory service, the payment company aims to guide clients through the initial phases of AI adoption, offering comprehensive support from strategy formulation to implementation.
According to the firm, businesses can leverage the new service to define their responsible AI strategies and align the technology with their overarching business objectives, including market expansion, product design, customer acquisition, engagement improvement, and risk management.
Backed by a global team of over 1,000 consultants, data scientists, and product experts spanning 75 offices, the AI advisory service aims to deliver actionable insights and recommendations to businesses. Its primary goal is to empower clients to harness AI effectively, particularly within generative AI.
“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 own customers through acquisition, engagement, retention, and risk management,” said Carl Rutstein, global head of advisory services at Visa.
Fostering Diversity and Technological Advancement
The launch of the global AI advisory services comes after the company recently made a significant investment in the field of AI. On October 2, Visa announced the rollout of a $100 million AI venture fund dedicated to advancing the innovation and development of generative AI technologies.
That same month, the company joined forces with the UK’s Department for Science, Innovation, and Technology (DSIT) to co-fund data science and AI scholarships targeting postgraduate students from underrepresented backgrounds.
The deal is part of the UK’s strategic AI skills scheme, launched by DSIT and managed by the Office for Students (OfS). The partnership sought to address the UK’s shortage of skilled technology professionals and ensure a sustained demand for digital proficiency.
Its main objective is to foster diversity in the region’s technology sector, particularly by supporting women, black students, disabled students, and individuals from lower socioeconomic backgrounds.
For the upcoming 2023-24 academic session, Visa plans to sponsor three scholarships, which will be matched by the government, resulting in 12 scholarships for deserving students.
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Visa Rolls Out Global AI Advisory Services to Help Clients Embrace AI