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Wednesday, April 17, 2024

Some context for the Visa $100 million Gen AI fund


By Peter Renton

Since Visa introduced late Monday their new $100 million fund targeted on generative AI startups a lot has been written.

This piece in American Banker caught my consideration as a result of it strikes past the hype (Look! Generative AI!) and offers a lot wanted context.

There are few, if any, corporations with a bigger information set than Visa, significantly on the subject of funds. “Visa has entry to the varieties of knowledge that may present the gasoline for differentiated massive language fashions that may be utilized to payment-specific issues.”

Visa additionally has a nicely established accelerator program and its Visa In all places program is now a worldwide with a whole lot of startups concerned. It additionally has its Fintech Associate Join the place is connects fintechs to banks and different established corporations.

That is the place it will get actually fascinating. Many of the innovative innovation in new applied sciences occurs on the startup stage and Visa may also help speed up these developments with its huge startup ecosystem.

There’s nonetheless loads of hype round Generative AI however at the least with this announcement what’s going on underneath the hood has super potential


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