Visa, the global leader in digital payments, has recently announced a new initiative to invest $100 million in companies that are developing generative AI technologies and applications for commerce and payments. This initiative is an extension of Visa’s leadership in using AI to drive innovation in payments, create value for partners and clients, and enable and empower global commerce.
The Power of Generative AI
Generative AI is an emerging subset of AI that uses Large Language Models (LLMs) to develop artificial general intelligence capable of generating text, images, or other content from large sets of existing data when given prompts. This technology has the potential to reshape how we live and work, and it will also meaningfully change commerce in ways we need to understand.
Visa Ventures Leads the Way
This initiative will be led by Visa Ventures, the global corporate investment arm of Visa. Visa Ventures has been investing in and partnering with companies driving innovation in payments and commerce since 2007. With generative AI’s potential to be one of the most transformative technologies of our time, Visa Ventures is excited to expand its focus to invest in some of the most innovative and disruptive venture-backed startups building across generative AI, commerce, and payments.
To learn more about the $100 million generative AI ventures initiative and Visa Ventures, please visit Visa.com/ventures
