Visa (NYSE:V), the renowned payments processor, made headlines on Monday as it announced the launch of a $100 million venture fund. The fund nurture generative artificial intelligence (AI) startups. This move positions Visa among a growing cohort of investors enthusiastically entering the AI sector this year.
Visa’s Generous AI Investment
Prominent tech giants like Microsoft (NASDAQ:MSFT) and Alphabet’s Google (NASDAQ:GOOGL) have been avid supporters of the AI space. Thus, which has been a prominent buzzword in technology circles lately. The surge in interest can be attribute in part to the soaring popularity of ChatGPT, the widely acclaimed chatbot.
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The AI Buzz: Inspired by ChatGPT
Jack Forestell, Visa’s Chief Product and Strategy Officer, emphasized the potential transformative impact of generative AI on commerce. He stated, “While much of generative AI so far has been focused on tasks and content creation, this technology… will also meaningfully change commerce in ways we need to understand.”
Visa’s bold venture into the world of generative AI signals its commitment to staying at the forefront of technological innovation. Moreover, with a substantial $100 million fund earmarked for AI startups, Visa is poised to play a pivotal role in shaping the future of AI-driven commerce.
Investors and tech enthusiasts alike are eagerly watching as Visa and other industry leaders continue to fuel the growth and development of generative AI startups, ushering in a new era of innovation and possibilities.
Disclaimer: Please note that this article serves solely for informational purposes. Thus, must not construe as financial advice. We advise readers to conduct thorough research and consult with financial professionals before making any investment decisions.
