Visa a company that processes payments, on Monday announced the creation of a $100 million venture fund for entrepreneurs using generative artificial intelligence (AI).
After chatbot ChatGPT’s success, a number of well-known companies, including Microsoft and Alphabet’s Google, have funded the AI sector, which has become a hot topic in tech circles this year.
The chief product and strategy officer of Visa, Jack Forestell, stated in a statement that “while much of generative AI has so far been focused on tasks and content creation, this technology… will also meaningfully change commerce in ways we need to understand.”
A system known as “generative AI” produces entirely new material based on what it has learned from previously collected data.
After chatbot ChatGPT’s success, a number of well-known companies, including Microsoft and Alphabet’s Google, have funded the AI sector, which has become a hot topic in tech circles this year.
The chief product and strategy officer of Visa, Jack Forestell, stated in a statement that “while much of generative AI has so far been focused on tasks and content creation, this technology… will also meaningfully change commerce in ways we need to understand.”
A system known as “generative AI” produces entirely new material based on what it has learned from previously collected data.
