Visa Consulting & Analytics launches AI Advisory practice

04 March 2024 2 min. read

Visa Consulting & Analytics has launched a new practice dedicated to AI consulting.

The new service line will help clients worldwide with a full range of AI consultancy services, from strategy and initial discovery to planning and building prototypes or minimum viable products, through to implementation and capability development.

“Our dedicated AI Advisory practice focuses on providing actionable insights and recommendations to empower clients to unlock the potential of AI and utilize generative AI,” said Carl Rutstein, Global Head of Visa Consulting & Analytics.

Visa Consulting & Analytics launches AI-practice

Headquartered in the United States, Visa Consulting & Analytics is the inhouse consulting wing of Visa. The firm, which advises both internally and externally, has 1,000 consultants, data scientists and product experts in 75 offices on six continents.

Over the past year alone, Visa Consulting & Analytics has carried out “hundreds of AI-related paid engagements” said Rutstein, with the firm now bringing together its expertise under one roof. “Our extensive work in AI and data, using over 150 unique AI/ML models, has set the stage for the launch of our dedicated AI Advisory practice.”

According to Rutstein, artificial intelligence and its little sister generative AI are poised to redefine the payments domain. “AI is revolutionizing industries worldwide – and the payments sector is at the forefront of this transformation.”

Indeed, companies such in sectors such as banking, retail, e-commerce, public transport, and mobility are all heavily reliant on a seamless and efficient payments infrastructure. AI technology offers the potential to make transactions and the payments infrastructure much more efficient, as well as enhancing all kinds of processes, including customer experience, client acquisitions, internal operations, and risk management.

Rutstein: “Visa Consulting & Analytics doesn’t just use AI to help improve payment experiences – we also harness AI to empower our clients to grow and redefine how they serve their own customers through acquisition, engagement, retention, and risk management.”

Jos van de Kerkhof, a leader at Visa Consulting & Analytics in Europe, added: “Our team of consultants and data scientists guides clients through their AI journey, from strategy through to implementation.”

Meanwhile, the consulting firm can leverage the power of its parent Visa – a global powerhouse with over 28,000 staff. In the last 10 years, Visa has invested more than $3 billion in AI and data capabilities.