Visa has launched an advisory practice to help clients unlock the potential of artificial intelligence.
The payments giant says it will offer firms access to AI expertise it has built up over 30 years and billions of dollars of investment.
The AI Advisory Practice taps into Visa Consulting & Analytics' global network of over 1000 consultants, data scientists and product experts in 75 offices on six continents to help clients understand the AI landscape, including the potential role of generative AI.
VCA offers a range of services that guide clients through their AI journey, from initial discovery and planning to implementation, grounded in foundational strategy, capability assessment, and model design.
The firm says that this collaborative approach will help clients define their own responsible AI strategy and use the technology more effectively to meet their business goals, such as market expansion, product design, customer acquisition, engagement improvement, and authorisation and fraud optimisation.
Carl Rutstein, global head, advisory services, Visa, says "AI is not just reshaping industries worldwide - it's revolutionizing them, and the payments sector is at the forefront of this transformation.
"Visa doesn’t just use AI to help improve payment experiences - our Advisory business is also harnessing it to empower our clients to grow and redefine how they serve their own customers through acquisition, engagement, retention, and risk management.”