At its recent Global Product Drop event, Visa unveiled its Intelligent Commerce strategy, which aims to transform how businesses and consumers engage with VISA commerce systems with a deep artificial intelligence integration that comes with assistance from some of the world’s most prominent AI players.
Ryan McInerney, Visa CEO, added:
As new ways to pay emerge, they need to run on a network that is always on—that is safe, secure, scalable and relentlessly innovating.” “For any AI commerce use case to take hold, the payment is a critical enabler of success. If there is no payment, there is no commerce. That’s the expertise and trust that Visa brings.
Visa is betting on AI agents that will serve as a customer’s intermediaries, supporting transactions between businesses and their customers.
Jack Forestell, Visa’s Chief Product and Strategy Officer, also added:
We see tremendous potential for the role AI agents will play in commerce, from streamlining transaction-driven tasks such as ordering groceries, to more sophisticated search and decision-making like securing that hard-to-get restaurant reservation.
AI to Impact the Worldwide Economy
Visa has established strategic partnerships with eight leading technology innovators to advance its AI initiatives. These partners include Anthropic, IBM, Microsoft, Mistral AI, OpenAI, Perplexity, Stripe, and Samsung.
During a keynote speech at the Council on Foreign Relations, Anthropic CEO Dario Amodei emphasised the significant impact AI could have on workflows and various enterprise sectors. He also discussed AI’s potential effects on programmer job roles and beyond.
Amodei said:
In the short run, we are going to need to manage the disruption, even as the pie gets much larger. In the long run, as I’ve said, we’re going to need to think about a world where AI—and I don’t want to lie about this—I really think this is where this is going—is going to be better than almost all humans at almost all things. The whole population, again, thinks of this stuff as chatbots. If we say this is dangerous, if we say this could replace all human work, it sounds crazy, because what they are looking at is something that in some cases seems pretty frivolous, but they don’t know what’s about to hit them.
Today’s most effective approach for industries is managing and understanding AI’s role in the workplace. This entails assessing whether AI will enhance employees’ responsibilities or replace them entirely. In response to this challenge, Anthropic is developing an economic index to analyse how businesses use AI and how this usage affects factors such as economic growth rates and taxation.
