Visa launches $10- million fund for gen AI start-ups

Payments processor Visa has launched a $100-million venture fund for generative AI start-ups.

start-ups, joining a list of investors who have flocked to the sector this year.

Several high-profile names such as Microsoft and Google have backed the AI space, a buzzword in technology circles this year, after chatbot ChatGPT’s popularity. “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 chief product and strategy officer, Jack Forestell, said in a statement.

Generative AI is a technology that creates brand new content based on what it has learnt from past data. —

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