Visa announced today that it 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, the card giant’s 16-year-old global corporate investment arm.
Visa claims to have been a “pioneer of AI use in payments” since 1993. For the unacquainted, generative AI is an emerging subset of AI trained on large sets of existing data to generate text, images or other content when given text prompts.
“While much of generative AI so far has been focused on tasks and content creation, …
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