Global card company Visa announces $100M investment in generative artificial intelligence company
Haebom
1
Visa has announced a new $100 million Generative AI investment plan to apply artificial intelligence (AI) to commerce and payments. The investment will be managed by Visa Ventures, Visa’s global corporate investment arm. Generative AI is an AI technology that can generate various types of content, including text, images, audio, and synthetic data. Visa says this technology will have a significant impact in the future of finance.
To be honest, $100M is a large amount in absolute terms, but... it's actually a very small amount in the AI industry. (Recently, SKT and LG invested at least $1B in Entropic or their own AI.) It would be very difficult to develop a foundation model or build AI facilities with that, and they will probably invest in fintech and techfin companies that utilize existing open AI or Entropic APIs.
The gist of the article seems to be that financial giants like Visa are eyeing the AI game.
Questions and Insights to Consider
Commercial Applications of Generative AI: How Can Generative AI Be Used in Payments and Commerce?
Visa's Strategy: What does Visa hope to gain from this major investment?
AI and Finance at the Crossroads: What New Possibilities Can AI Technologies Unlock in Finance?
📚 Welcome to Haebom's archives. --- I post articles related to IT 💻, economy 💰, and humanities 🎭. If you are curious about my thoughts, perspectives or interests, please subscribe. Would you like to be notified when new articles are posted? 🔔 Yes, that means subscribe. haebom@kakao.com
