Visa Investing Heavily in Artificial Intelligence to Revolutionise Ecommerce – Daily Business

Most of the world’s biggest companies are investing huge sums of money into artificial intelligence. The technology is expected to completely change the world and could be more disruptive than the internet was. Tech giants like Google and Microsoft know that it’s important to keep up with it or risk going obsolete.

Visa is one of the other legacy brands that’s aiming to stay relevant in the AI age, and the payment processing company has already invested billions into using the technology to improve online shopping experiences. This should allow it to continue to thrive long into the future.

What Projects Has Visa Been Investing in? It was recently reported that Visa has invested a whopping $3.3 billion into AI data and infrastructure over the last 10 years, and it has been spreading out these funds to ensure it covers all bases. For instance, it launched a $100 million Generative AI Ventures fund to support startups and innovation in this space.

The main mission of the iconic payment service is to change the way consumers interact with ecommerce platforms. This involves everything from AI-powered payment authorisation to intelligent fraud detection. There are plenty of other exciting plans in place too. The company has a vision for AI that involves personal shopping assistants that help with selection and purchases. The overall aim is that ecommerce will be even smoother and easier than it already is.

How Visa’s AI-Powered Promotions Could Change Ecommerce

One area that Visa has reportedly been looking into is the realm of online promotions, and how to make these even better than they already are.

Special offers have become abundant in the internet age, with the most competitive industries providing upfront value to users, usually in the form of freebies. For example, streaming services usually provide the first month for free to allow people to get a sense of the platform first.

The iGaming and online casino industry is another sector where promotions have ruled the roost. These promotions, such as a casino welcome bonus, have continued to evolve as the sector has ballooned in order to continue to attract new customers. Now, players can usually expect a deposit match bonus and free spins when they join a site, meaning that there’s a chance they can win without spending any of their own money.

Visa plans to revolutionise personalised offers further by leveraging AI in order to help business generate personalised offers for different customers. This would use data based on their behaviour and transaction history. This would benefit retailers and customers at the same time, as it would mean greater conversion rates for the ecommerce store and tailored experiences for the end user.

It doesn’t stop there either. In the future, Visa plans to deliver AI shopping assistants that do all the hard work for you. Everything from grocery shopping to buying birthday gifts could soon be handled by the technology, with AI predicting what people need before they’ve even thought of it themselves.

Visa has been in the payment processing business for decades, and it’s putting plans in place to ensure it stays on top long into the future. Its progress with AI is promising, and ecommerce is set to get bigger and better.