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But first, Visa announced today that it plans to invest $100 million in companies developing

generative AI technologies and applications that will impact the future of commerce and

payments. The investments will be made through Visa Ventures to card giant's

16-year-old global corporate investment arm. Visa claims have been a pioneer of AI use in payments since 1993.

For the unacquainted, generative AI is an emerging subset of AI trained on large sets of existing

data to generate text images or other content when given text props.

David Rolf, head of Visa Ventures, said that narrative AI has the potential

to be one of the most transformative technologies of our time.

In August, Tech Ranch talked with Marie Elise Droga, who was appointed Visa's new head of FinTech

late last year.

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