Exclusive: Visa's CIO Shares Insights On Generative AI's Transformative Potential In Payments Industry
VentureBeat, Tuesday, April 23rd, 2024
In an exclusive interview with VentureBeat, Don Hobson, Chief Information Officer at Visa, recently shared his vision for how generative AI will revolutionize the global payments landscape. As a pioneer in AI-driven fraud protection, Visa is now fully embracing the transformative potential of this groundbreaking technology.
'Many people may not realize that Visa has been using AI to protect payments since 1993. Today, we are all in on generative AI and its potential to have a profound impact on commerce and the payments experience,' Hobson explained. The company's commitment to generative AI is evident in its recent moves, including launching a secure instance of GPT-4 for developers and investing $100 million in a generative AI ventures initiative.
Hobson emphasized the critical role of data in the successful deployment of generative AI, noting that, 'Data protection and privacy continue to be key priorities at Visa, and we believe proactively considering privacy in products and services is key to the future of responsible innovation and economic growth.'