Visa introduces AI consulting practise, using 30 years of knowledge and $3 billion in investments to help clients use generative AI.
In an effort to offer clients insightful advice on how to fully utilise the promise of generative AI and artificial intelligence, Visa launched an AI advisory practise.
The multinational digital payment corporation has over three decades of experience implementing AI, and in the previous ten years, it has invested over $3 billion in data infrastructure and AI. The establishment of this specialised AI advising service has been made possible by the various AI-related engagements that Visa Consulting & Analytics (VCA), the consulting division of Visa, has completed.
‘We don’t just use AI to help improve payment experiences”
“Artificial intelligence is not merely transforming industries across the globe – it is completely revolutionising them, with the payments industry leading this change,” stated Carl Rutstein, Visa’s global head of consulting services. “Visa’s advisory business uses AI to empower our clients to grow and redefine how they serve their own customers through acquisition, engagement, retention, and risk management. We don’t just use AI to help improve payment experiences.”
Furthermore through its network of over 1,000 consultants, data scientists, and product specialists spread across 75 offices worldwide, VCA will be made available to Visa’s AI Advisory Practise. From initial planning to implementation, the service will walk clients through their AI journey, with a focus on strategy, capacity evaluation, and model building.
Moreover, the aim of the service is to help clients develop responsible AI strategies and use AI to efficiently achieve specific business goals including fraud protection, product design, customer acquisition, market expansion, and engagement enhancement.
And than a senior vice president of payments at one of the top ten US banks added, saying, “VCA has created several exclusive AI/ML models to support our expansion through improved customer service. Their AI/ML specialists, together with our data and VisaNet data, give us a degree of knowledge that is essential to our expansion plan.
“Together, we are investigating how to use AI to support our customers’ unmet needs through use-cases that are specific to our company’s enterprise needs as well as the intricate payment needs of our customers.”
