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Visa has taken a proactive approach to generative AI, implementing more than 500 applications to improve security and operational efficiency. While the company faces restructuring, the focus remains on innovation and process optimization.

Key points:

• Visa has already implemented more than 500 generative AI applications.
• The company plans to reduce its staff by about 1,400.
• The strategy aims to combat increasingly sophisticated fraud in the payments industry.
• Rajat Taneja envisions a future with digital AI employees supervised by humans.

Visa is leading a rapid transformation in the payments industry through the integration of generative AI, as stated by the president of the technology division, Rajat Taneja. The company has already fielded more than 500 generative AI applications, a number that reflects a strategy undertaken to maximize the potential offered by these technologies and meet the challenges posed by increasingly elaborate fraud. Taneja emphasized the importance of innovating rapidly, especially in an environment where cyber attack methods are becoming increasingly complex and sophisticated. Visa is currently in the midst of a global restructuring, which will result in the reduction of about 1,400 jobs, including about 1,000 in the technology sector. Despite this, the company stresses that the introduction of artificial intelligence is not intended to replace workers, but rather to enhance their capabilities, improve operational efficiency, and provide greater protection against fraud. Visa has invested about $3.3 billion in AI and data infrastructure over the past decade, marking a significant commitment toward modernizing its services. Analysis of AI implementations shows that many of them, such as tools to identify security vulnerabilities or specialized chatbots, are designed to make internal operations more efficient. According to Gartner research, 37 percent of organizations have started using generative AI in production, a significant increase from 9 percent a year earlier. However, Taneja warned that measuring the returns on these investments can present challenges; for example, tools that detect fraud can quantify cost savings, while productivity apps may offer less tangible time savings. The key to rapid adoption of these technologies lies in creating a robust governance and security infrastructure, involving all business teams rather than limiting responsibilities to a small group of experts. Taneja outlined a future vision in which each human worker could oversee a team of eight to 10 AI-powered digital employees, a model that promises to streamline operations and improve overall productivity.

Innovation and efficiency become imperative to meet the challenges of the global marketplace.