Unveiling the AI Advisory Practice
On November 8, Visa made headlines by announcing the launch of its new global artificial intelligence advisory practice under the Visa Consulting & Analytics umbrella. This strategic move aims to provide actionable insights and expert recommendations, stepping into a vital role for clients eager to embrace the potential of AI, especially generative AI.
The Power of Experience
With a rich history spanning over 30 years in AI, Visa contextualizes its new service as a culmination of decades’ worth of knowledge and innovation. The company plans to leverage this experience in collaboration with its clients to explore how generative AI can redefine payment experiences, unlocking pathways to significant growth.
A Robust Support System
Visa’s AI Advisory Practice is backed by a formidable team. The Visa Consulting & Analytics division proudly claims a global network of more than 1,000 consultants, data scientists, and product experts operating across 75 offices on six continents. This diverse and skilled workforce ensures that clients receive tailored support for their AI journeys.
What’s on Offer?
The practice is designed to empower clients by revolutionizing various aspects of their operations. Carl Rutstein, the Global Head of Advisory Services at Visa, stated, “AI is not just reshaping industries worldwide—it’s revolutionizing them.” This advisory service will focus on enhancing client capabilities in acquisition, engagement, retention, and risk management.
The Generative AI Boom
The timing of this launch couldn’t be better. Just a month prior, Visa also announced a $100 million AI venture fund aimed at fostering innovation in the generative AI landscape. Generative AI has become a hot topic in tech circles, employing machine learning models that can create text, images, and more, essentially mimicking human-like content generation.
Final Thoughts
As the payments industry stands on the cusp of AI-driven transformation, Visa’s new advisory practice positions it as a thought leader ready to steer clients through this exciting frontier. With tools and strategies honed from its wealth of experience, Visa is set to empower organizations in navigating the evolving landscape of generative AI.
