{"id":59559,"date":"2023-11-03T15:03:31","date_gmt":"2023-11-03T07:03:31","guid":{"rendered":"http:\/\/www.upgrademag.com\/web\/?p=59559"},"modified":"2023-11-03T15:03:33","modified_gmt":"2023-11-03T07:03:33","slug":"visa-launches-100m-generative-ai-ventures-initiative","status":"publish","type":"post","link":"http:\/\/www.upgrademag.com\/web\/2023\/11\/03\/visa-launches-100m-generative-ai-ventures-initiative\/","title":{"rendered":"Visa launches $100M generative AI ventures initiative"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Visa, a global player in payments, announced a new\u00a0$100 million\u00a0generative AI ventures initiative to invest in the next generation of companies focused on developing generative AI technologies and applications that will impact the future of commerce and payments.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As a pioneer of AI use in payments since 1993,\u00a0Visa\u00a0considers this initiative an extension of Visa\u2019s leadership in using AI to drive innovation in payments, create value for partners and clients, and enable and empower global commerce. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Generative AI is an emerging subset of AI that is built on 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. <\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"has-vivid-cyan-blue-color has-text-color has-large-font-size wp-block-paragraph\"><strong>\u201cWhile much of generative AI so far has been focused on tasks and content creation, this technology will soon not only reshape how we live and work, but it will also meaningfully change commerce in ways we need to understand,\u201d said\u00a0Jack Forestell, Chief Product and Strategy Officer,\u00a0Visa Inc.<\/strong><\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">This initiative will be led by\u00a0Visa Ventures, the global corporate investment arm of\u00a0Visa.\u00a0Visa Ventures\u00a0has been investing in and partnering with companies driving innovation in payments and commerce since 2007. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWith generative AI\u2019s potential to be one of the most transformative technologies of our time, we are excited to expand our focus to invest in some of the most innovative and disruptive venture-backed startups building across generative AI, commerce and payments,\u201d said\u00a0David Rolf, Head of\u00a0Visa Ventures,\u00a0Visa Inc.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Visa\u00a0considers this initiative an extension of Visa\u2019s leadership in using AI to drive innovation in payments, create value for partners and clients, and enable and empower global commerce. <\/p>\n","protected":false},"author":6,"featured_media":54440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[2172,2096,5332,5939,676],"class_list":["post-59559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","tag-finance","tag-finance-and-banking","tag-finance-industry","tag-finance-technology","tag-visa"],"_links":{"self":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/59559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/comments?post=59559"}],"version-history":[{"count":0,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/59559\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media\/54440"}],"wp:attachment":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media?parent=59559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/categories?post=59559"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/tags?post=59559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}