Payments processor Visa has launched a US$100-million venture fund for generative artificial intelligence 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. — Niket Nishant. (c) 2023 Reuters
