Investigation into role of AI in improving accessibility of Visa to remote areas enhancing competitiveness and success in future endeavours

This report investigates the importance of Artificial Intelligence in the finance service industry, with a focus on Visa. It analyzes the benefits, challenges, and strategies of using AI technology and suggests that Visa needs to provide its employees proper training and make investment in AI technology to gain industry success and make expansion in remote areas.

Business Consultancy
Report

Management Summary
This investigation highlights the importance of Artificial Intelligence in context of the
finance service industry. Artificial Intelligence is recently developed technology which offers
wide variety of benefits to finance service organization such as better responsiveness, higher
organizational efficiency, high speed and better consumer service experience. In context of Visa
it is analysed that the company has been able to succeed with the help of its credit card services
such as Visa Direct. After conducting investigation on the benefits, challenges and strategies of
using AI technology, it is determined that Visa neds to provide its employees proper training and
make investment in Artificial Intelligence technology in order to gain industry success and make
expansion in remote areas.

Table of Contents
Management Summary....................................................................................................................2
Table of Contents.............................................................................................................................3
TITLE: Investigation into role of AI in improving accessibility of Visa to remote areas
enhancing competitiveness and success in future endeavours.........................................................1
Introduction......................................................................................................................................1
Background of the project......................................................................................................1
Research Problem...................................................................................................................1
Aims and Objectives...............................................................................................................2
Research Rationale.................................................................................................................2
Research Questions................................................................................................................3
Research Scope.......................................................................................................................3
Methodology....................................................................................................................................4
Literature Review.............................................................................................................................7
Introduction............................................................................................................................7
Significance of AI for financial industry and Visa.................................................................7
To analysis the role of AI in supporting expansion to remote areas as well as improving the
level of services for better future Endeavours........................................................................9
To investigate about the effective strategy and ways for Visa that supports better implication
of the AI to have higher future endeavours and success level.............................................11
Conclusion............................................................................................................................12
Analysis and Synthesis..................................................................................................................12
Conclusions and recommendations................................................................................................23
Poster..............................................................................................................................................25
Reflective Statement......................................................................................................................26
References:.....................................................................................................................................28
Appendix........................................................................................................................................31
Work-plan.............................................................................................................................31
Evidence of the collected Data.............................................................................................31

TITLE: Investigation into role of AI in improving accessibility of Visa to
remote areas enhancing competitiveness and success in future endeavours.
Introduction
Background of the project
Artificial Intelligence has emerged as the technology which supports businesses in
improving business processes, practices and outcome. In addition to this artificial intelligence us
also being used by many industries for developing innovative products and services. The
financial service industry is also employing artificial intelligence to improve their data
management and offer consumers better experience (Melnychenko, 2020). Artificial intelligence
has affected the capability of financial service enterprises and has enabled them to gain better
insight from large amount of consumer behaviour, financial, economic and market data so that
they are able to improve any microscopic aspect of consumer experience.
Artificial intelligence is a recent innovation which has seen rapid growth in short amount
of time compared to adoption of other technologies by corporates such as digital technology.
Visa is a major player in the financial service industry which has utilized artificial Intelligence to
solve business challenges and improve consumer experience. AI has vast applications in the
financial services industry and Visa has started using this technology to change the business
environment and daily lives of the consumers. AI is a futuristic innovation which needs to be
used with accountability, fairness and focus to ensure its fruitful application in the corporate
world (Mishra and et. al., 2020).
Visa has invested in building an AI supercomputer to support swift decision making,
meet performance latency requirements, ad identifying fraud in credit application processes
(Visa, 2021). Artificial Intelligence is also being used to support expansion of business in remote
areas. Growth of financial enterprises is dependent upon reaching remote regions because it
exposes the brand to more consumers and makes the company get better market penetration in
various regional and international markets.
Research Problem
The research problem identified for this investigation is the ways in which
implementation of Artificial Intelligence by Visa is affecting the competitiveness, performance
and remote accessibility of the company. Moreover the investigation focuses on understanding
1

the role of Artificial Intelligence in supporting success in future business endeavours of Visa.
The areas of Artificial Intelligence affecting the competitiveness, future success, expansion to
remote areas and overall performance has not been investigated because Artificial intelligence is
a new technology. AI delivers positive results for financial service industry because it is
sophisticated to analyse large amounts of data (Hu and et. al., 2021). This research aims to
address the research problem of AI changing financial service industry by investigating Visa and
its application of AI in detail so that its impact on future success can be understood.
Aims and Objectives
The aim of the current project is, “To determine the role of AI in supporting expansion to
remote areas as well as improving the level of services to have better future Endeavours”. A
research project of Visa.
Research objectives
 To examine the concept of AI along with its rising need and importance within
Financial services industry.
 To analysis the role of AI in supporting expansion to remote areas as well as
improving the level of services for future endeavours.
 To investigate about the effective strategy and ways for Visa that supports better
implication of the AI to have higher future endeavours and success level.
Research Rationale
The personal interest in exploring this topic is because of the numerous possibilities
provided by artificial intelligence in development of innovative and high quality products.
Understanding more about AI, problems associated with this technology and improvements
made possible by this technology can help discern the possible future for the financial service
industry, level of competitiveness and opportunities to improve performance in remote areas. AI
is being used in variety of industries because it has numerous applications (Coeckelbergh, 2020)
The curiosity to understanding the ways in which the financial industry is changing with regards
to competitive intensity, accessibility and improvement in performance are the main factors
behind selection of this particular topic.
Completing research in the area of artificial intelligence in Visa is essential because the
company is already making strides in building sophisticated AI catered to fit the needs of the
financial service industry. Usage of AI in financial service sector improve results for multiple
2

stakeholders including consumers, employees, finance businesses and institutions. Evaluation of
financial service sector industry in context of AI implementation and usage can shed light on the
ways in which AI is helping business improve their performance such as gain access to remote
regions handle cases of financial fraud and become more competitive. The rationale behind
conducting research on the topic of AI in case of Visa s is that this research can help understand
the ways in which AI is helping enhance competitiveness, improve performance and attain
success in future business endeavours.
Research Questions
 What is the concept of AI along with its rising need and importance within
Financial services industry?
 What is the role of AI in supporting expansion to remote areas as well as
improving the level of services for future endeavours?
 What effective strategy and ways for Visa that supports better implication of the
AI to have higher future endeavours and success level?
Research Scope
The scope of this investigation is vast because it focuses on the application of Artificial
Intelligence in the finance industry. AI has many work based application which can also support
the growth of the finance services industry. Effective usage of Artificial Intelligence can provide
numerous benefits to the finance services industry such as expansion to remote areas. The topic
of remote expansion by applying AI features has vast scope for research because it is associated
with other areas of the finance service industry such as providing consumers better experiences
and improving organizational efficiency to reach remote areas more effectively.
In context of the present investigation Visa is focus of the research which is large
multinational organization with years of presence in the finance service industry. This further
enhances the scope of the research as it aims to understand the ways in which Visa can use AI to
expand its remote operations and gain organizational success. In future endeavours. This vast
scope increases the importance of the investigation as its successful completion can be useful for
the entre finance service industry. In addition to this it can also support growth in usage of
Artificial Intelligence for expansion and successful operation of financial institutions.
3

Methodology
Research methodology is an effective technique which help the investigators to determine,
select, analyse and process the data about a topic. It enables the readers to examine the reliability
and validity of the conducted research. There are two types of research methods such as
quantitative and qualitative which helps the researcher to collect the data to achieve the
objectives in specific manner (Gunasekeran and et. al., 2021). It forms out a vital part of every
investigation that support an effective way and approaches to ensure the systematic collection
and analysis of the data. The research method and approaches that would be used and applied
within current study are presented as below with justification and reason for their use:
Research philosophy- There are two philosophies which the researcher can use to complete
the project effectively such as positivism and interpretivism. – It is viewed as conviction or
marvel in which information is assembled by the analyst to accomplish legitimate result of the
exploration (Ndlovu-Gatsheni, 2019). It is major for a specialist to select most correct ways of
thinking for their investigation fill as that will aid in accomplishing the long objective and
destinations effectively. There are two types of examining approaches of reasoning from the
point of investigator that will be essential to undertake i.e. positivism and interpretivism. In
regard of individual examination, researcher will take use of positivism research philosophy. It is
on the grounds that it is one of the real along with well organised technique which help in
effective level of analysis in systematic manner. At the same time, this further help in evaluating
of quantitative data that has actual existence in subjective form (Finlayson and et. al., 2021).
With the support of this particular methodology researcher has aim towards completing research
objectives in an effective and well-defined manner. In this research, positivism research
philosophies have been considered and the reason for choosing this method is that it a technical
method in which results are based on particular approach and not on emotions and feelings.
Hence, it is a most effective method which helps in taking most appropriate decisions as well as
accurate steps on the bases of real time situation. Positivism The making use of the positivism
set of the research philosophy is made within current project as it ensures and leads to a more
systematic way of investigation that ensure and lead to more specific set of results.
Research approach- The research approach is termed as the plan or process that is applied
by investigators to complete the research work in appropriate manner. To complete the work of
research in perfect manner, it is imperative to them to choose right research approaches. There
4

are two types of approaches such as Inductive and deductive which the investigator requires to
select. To complete current research objectives, the researcher with considered the deductive
approach because it is very effective encourage the objective nature of research as well as
coordinate with the selected philosophy like positivism (Alhayani and et. al., 2021). Along with
that the deductive approach is based on the facts as well as it also assists in evaluating the
numerical data addition to information’s. Moreover, there are some other benefits in the selection
of this approach is it aid in providing accurate explanation of the link between variables and
concepts. It also enables in generalising the findings of research in right manner.
Research strategy- It has been chosen as the strategies that are received by investigators to
verify along with accumulate data related to the topic (Eisend and Kuss). With respect to the
nature of the current study making use of the survey strategy is seemed most suitable and
appropriate as it ensures most cost and time efficient way for collecting first hand data within the
help of questionnaire. They conduct questionaries’ method for collection of data and completion
of research work. It also helps them to measure most accurate data which is effective in order to
get better outcomes or result. The reason to select the questionnaire method is the research get
first hand or correct information directly from the respondents. As per that information they
develop the clear insight on current research topic along with take effective decisions in future
for betterment.
Choice of method- In order to conduct research in specific manner the researcher can use
suitable method from available two methods such as qualitative and quantitative. It is determined
as kind of data or information on which researcher want to based their project so that they can
attain the desire goal and objectives successfully. For every researcher, it is essential to select
best research choice for their project as that will directly or indirectly help in attaining the desire
goal effectively. There are two types of choices in front of researcher i.e. quantitative as well as
qualitative research choice. In context of this research, an investigator is adopting quantitative
research choice as it will aid them in collecting authenticate and reliable information (Daniel,
2018). It is so because that are based on the numerical as well as statistics related to topic. With
the help of this undertaking about the use of quantitative research, investigator aim towards
accomplishing research objectives with more accurate results. Along with this, the selected
method will allow researcher to gather effective and reliable data within the allocated timeframe.
Further, utilisation of quantitative method is also justifiable from the point that help in better
5

presentation of collected facts within more systematic and attractive way within the aid of tables
and charts. Some other major objectives behind choosing of quantitative research is that in case
of large sample size it provides more generalized results and is cost in effective nature. Also, aid
in collection of data in fast and authentic manner that will be analysed more perfectly as
compared to other existing approaches.
Data collection- It is termed as strategy that is use by an investigator to collect, assemble,
conform as well as identification of right data as per their topic. There are two types of data
collection such as primary along with secondary data. In order to complete the purpose of this
project the investigation use of both primary as well as secondary source of collecting data
would be made within current project (Ashok and et. al., 2022). For this they selected the
respondent in order to conduct the survey to collect primary and secondary data. It in this they
use both the method because it provides accurate and appropriate results. The effective use of
primary data is the investigators can gather the first hand information which includes no
biasness, discrimination and manipulation. Along with the use of the secondary data they can get
more information from multiple sources.
Sampling- It is related with the process of using small sample from large number of people
because it enables the researcher to analyse a specific segment from entire population
(Knottnerus and Tugwell, 2018). It has been seen that there are two types of methods such as
random or non-probabilistic method which they need to select to conduct the proper research for
better outcomes. It helps the researcher to get clear insight about the view point of people who
belong to each segment as well as make a proper conclusion about the topic. A sample size of the
30 participants would be selected from the employees of Visa with the help of the random
method of sampling. So the Researcher collect the data from the random method which allow
them to fulfil the objectives of research.
Ethical consideration- It is related to the collection of data in accurate manner as the data is
gathered for conducting research for productive purpose as well as not to harm anyone (Bécue,
Praça and Gama, 2021). The researcher must collect the information not for personal use or for
utilise in completing some illegal work. All the information is collected in appropriate manner
without harm the privacy of respondent as well as any organisation.
6

Literature Review
Introduction
Artificial Intelligence is an important technology for the financial services industry
because it can help business enhance performance and penetrate remote regions in domestic as
well as international markets (Okuda and Shoda, 2018). The focus of this literature review is to
understand the significance and requirement of the AI technology in the financial service
industry and its impact on accessing remote areas. The areas of performance and competitiveness
are also investigated in context of financial industry by looking at available literature.
Significance of AI for financial industry and Visa
As per the views of Columbus (2020) Artificial Intelligence has variety of applications in
the financial services industry and many multinational players in the industry have already
adopted Artificial Intelligence in various forms to take advantage of this technology. 54% of
financial services organizations. The advantage of implementing AI based solutions in the
financial services industry is that it helps provide intelligent insights in uncertain times and
supports effective strategic planning. It can be used to successfully expand business into new and
remote areas so that the firm achieves continuous success.
The BCG matrix can be applied in order to understand the importance of AI for Visa and
they in which it will help the company improve competitiveness and achieve succession future
business endeavours. The implementation of BCG matrix for financial services of Visa including
the AI supercomputer platform is provided below:
Star: The product with high market share and which are highest cash generators are
included here. In case of Visa the star product is Visa direct which provides businesses and
individuals single point of access for smooth goal payments. Visa direct is world’s largest digital
payment network and provides profit to Visa because of rise of digital payments (Visa, 2022). It
also has further growth potential because of rising digital payment.
Cash Cows: This quadrant includes products with high market share and low growth
prospects. In case of Visa, the product which is included in this quadrant is the Visa credit card.
Visa offers wide variety of credit cards which are popular across the world. Visa credit cards are
the most commonly used cards in circulation making up 52.8% of global card circulation
7

(Pokora, 2022). There is no further potential for growth in case of credit card development as the
world is moving towards digital payment. Therefore it is cash cow.
Dogs: This quadrant includes products which suffer loss with low market share and
growth prospects. Visa offers gift cards to consumers which can be used globally. It has low
market share because gift giving mostly involves exchanging personalized gifts instead of
money. There is also less growth potential as Visa gifts cards are not popular.
Question Marks: This elements includes products which have low market share but high
growth prospects. In this quadrant Artificial intelligence platform- supercomputer of AI is
included. AI platform at Visa provides detailed post-transaction insights, helps identify fraud
cases, improved digital security, improve decision making, analyse large amount of data in
milliseconds, supporting usage of AI with accountability and fairness. Here it I evident that the
AI supercomputer developed by Visa belongs in the question mark quadrant of the company
because it improves consumer experience but it has not supported enhancement of other financial
services to an extent that it delivers high market hare. However it has high future potential
because of the various advantages provided by AI technology.
In this way there is huge growth potential for future development of Visa AI
supercomputer supporting data driven operations for Visa and any organization associated with
the company. Visa will be able to improve profit performance and capability to operate in remote
areas with the help of AI as it will create secure and data driven solutions to domestic and
international business problems. In this way AI platform supercomputer of Visa will have
positive impact on future endeavours of the company.
Star
Visa Direct
Question Mark
Visa AI Platform Supercomputer
8

Cash Cows
Visa Credit Cards
Dogs
Visa Gift Cards
To analysis the role of AI in supporting expansion to remote areas as well as improving the level
of services for better future Endeavours
According to the view point of the Madhav, A.V. and Tyagi, A.K., 2022, it has been seen
that the artificial intelligence is shaping and leading the future of the humanity across all the
industry by the way of driving the use emerging technology such as the big data and IOT. Along
with this, the implication of the AI ensures and brings out better cloud computing technology as
well as enhanced the digitalisation process and online capability that plays a vital role in
enhancing the expansion level of a firm to the remote areas. Further, it has been seen that the use
of the AI tends to focuses on intelligent agents as well as it also tends to contain devices that
perceive the environment and based on effective technology that takes actions in order to
maximize goal success chances. Along with this, in the context of the modern digitalized world it
has become vital to have application of the AI that is taken as key the property of machines,
computer programs, and systems to perform the intellectual and creative that support and bring
out higher future endeavours and success level. Further, the key role of AI in supporting
expansion to remote areas as well as improving the level of services for better future Endeavours
has been listed and discussed as below: Better regulatory compliance and fraud detection- It has been seen and find out that
within the banking and financial sector the fraud detection as well as reducing the
chances of deception and scams is most vital and needed to have the future endeavour
and reach to a wider audience (Actico, 2021). Thus, AI play a vital role in brining and
9

leading out the better automatic compliance of the all the set regulation and policies to
supports the reduction in chances of scams. As well as the AI also tend to supports and
brings out the effective decision making system within the banking and financial sector
that allows and leads to the early fraud detection based on comprehensive audit
documentation that plays an important role in better future endeavour of the firm. Robotic automation and digitalisation of services- It has been seen that the application
of the AI tend to supports and brings out the better use of updated and latest set of
technology such as IOT along with other machine learning, computer visions and
effective processing system that plays an effective role in enhancing the overall future
endeavour. Beside this, the digitalisation of the business services supported by AI is also
lead an effective way to put and lead out higher expansion and reach of the Visa to
remote areas through leading higher accessibility through mobile phones also (Zhang and
Lu, 2021). Better customer experience- It has been seen that the making use of the AI tend to
supports the use of the right set of software that support and provide the better investment
recommendation as well as improved client funding proposals. Thus, the making use of
the AI tend to supports and brings out the better customer services to supports higher
future endeavour as well as effective expansion of a firm at remote areas. Beside this, the
use of the AI also tends to supports the higher level of the convenience for the customers
in form of improved services such as better ATM success and access to vital services
even when the banks are closed thus it plays a vital role in enhancing the future
endeavour (Alhayani and et. al., 2021). Thus, the application of the AI within the Visa
tend to supports and brings out the higher customer experience that leads to its higher
expansion and reach to remote area along with ensuring higher future endeavour based on
improved customer services.
 Realistic interactive interface- The making use of the AI also tend to supports and brings
out the effective Chatbots that helps in properly identifying the context and emotions of
the customers. Use of these set of the cognitive machine as well as improved and realistic
interactive interface tend to supports a better connection with the customers and also save
the time and efficiency level of the Visa. Thus, a vital role is being played by the AI in
10

supporting expansion of the Visa to remote areas as well as improving the level of
services for better future Endeavours (10x DS, 2020).
To investigate about the effective strategy and ways for Visa that supports better implication of
the AI to have higher future endeavours and success level.
As per the opinion of the Ahn, M.J. and Chen, Y.C., 2022, it has been seen and analysed that
the many issues and challenges are also being associated and related with the better implication
and use of the AI such as the issue of transparency of algorithm along with data privacy and
security, need of technical skill, etc. Thus, it has been seen and analyse that the it is vital to have
the effective strategy and ways for Visa that supports better implication of the AI to have higher
future endeavours and success level. It has been seen that the strategy of the recruiting and
having a set of technically skilled employees would be effective for the Visa to have an
improved implication and application of the AI (Huang and Rust, 2021). Along with this, the
talented and technically sound employees would also tend to supports and leads out the
improvement within the financial services and customer experience that would help in putting
the Visa in remote areas.
Beside this, the strategy of the providing and ensuring a regular set of the training for the
employees is also an effective way that supports the better application of the AI along with
leading and ensuring an improved efficiency within Visa to enhances its expansion level as well
as future endeavour. Along with this, the providing of the regular set of training for the
employees also plays a vital role in enhancing the self-confidence as well as the overall creativity
level of workforce in Visa that would lead to the higher expansion and effective future
endeavour (Niederman, 2021). Further, the Visa also tend to have a better use of firewalls and
anti-viruses to have the better application of the AI that would supports the mitigation of all sort
of threat of data breach and leakage. Beside this, it has been also seen and analysed that the Visa
could also have the strategy of the combing the AI with the crowd sourced data in the cloud that
supports and brings out an open innovation model to ensure a great reach and putting the Visa in
remote areas through effective IOT (internet of things). Further, in order to have and have a
higher set of the efficiency and reach to the remote areas it has been also an effective way and
strategy for the Visa to appoint and have a chief data supply chain officer who would control and
measure the overall performance and efficiency level of digitalisation and automation to ensure a
better growth and expansion rate (Zhang and et. al., 2021). Along with this, to have a higher
11

sense of motivation and improved the overall performance level of the employees that is vital for
the application of AI as well as supports better future endeavour comprises of having positive
company culture. Thus, implication of the participative nature of the leadership is effective
strategy for Visa that supports higher future endeavours and success level through having
positive workplace and improved creativity and innovation level of the employees based on
proper involvement.
Conclusion
From the above discussion it is concluded that Artificial Intelligence plays an important
role in development of Visa because it has huge growth potential as shown by the BCG matrix.
It will help the respecifies organization achieve contentious success in their future endeavours
weather it involves getting competitive edge or weather it involves getting accessibility to remote
areas. Visa will be able to achieve global success including the financial industry if it invests in
utilizing the AI ethnology with accountability. The future business endeavours of Visa will
deliver desired outcomes because of the useful features of AI such as better digital security,
better data analysis and access to data driven detailed insights.
Analysis and Synthesis
Primary Research
Questionnaire
Q1) Do you agree with the statement that Artificial Intelligence development will support
technological advancement of the financial service industry?
a) Yes
b) No
Q2) Do you believe that Artificial Intelligence technology can help financial institutions
improve consumer service?
a) Yes
b) No
Q3) How will Artificial Intelligence help financial institutions improve services offered to
the consumers?
a) By improving consumer experience
b) By supporting adherence of the company to legal requirements
12

c) By improving organizational efficiency
d) By offering interactive technology
Q4) What factors of Artificial Intelligence help financial businesses expand to remote
locations?
a) Realistic interaction interface
b) Higher Connectivity
c) Better consumer insights
d) All of the above
Q5) How can Artificial Intelligence help Visa succeed in various business endeavours?
a) By supporting expansion to remote areas
b) By improving personalization
c) By supporting faster digitization
d) All of the above
Q6) As per your viewpoint, is development of Artificial Intelligence platform in house
beneficial for Visa?
a) Yes
b) No
Q7) What are the main challenges of using AI in the financial service industry?
a) Cyber Security Challenges
b) Data privacy challenges
c) Recruiting technically skilled employees
d) All of the above
Q8) In your opinion what is the main limitation of investing in AI development in context
of Visa?
a) High costs of development
b) Uncertainty about future applications
c) Decrease in human interaction leading to alienation of employees
d) AI dependency can reduce thinking power of employees
Q9) What are strategies can be used by Visa to effectively utilize AI and achieve success in
various endeavours?
a) Providing employees training
13

b) Developing cyber protection strategies
c) Installation challenges
d) All of the above
Q10) What future benefits can be gained by Visa by investing in AI?
a) Better product development
b) Improved global reach
c) Higher responsiveness
d) All of the above
Q1. Do you agree with the statement that Artificial Intelligence
development will support technological advancement of the financial
service industry?
Frequency
a) Yes 24
b) No 6
Interpretation: From the above graphical analysis it is determined that out of 30
respondents 24 respondents have responded to the question of AI improvement supporting
technological progress of the finance industry as a yes while the remaining 6 respondents
have responded with a disagreeing option. It is interpreted from the analysis of the above
14

data that artificial intelligence development is considered positive for businesses operating
in the financial services industry as majority of 24 respondents have agreed with the
positive statement about Artificial Intelligence progress in context of the finance service
sector.
Q2. Do you believe that Artificial Intelligence technology can help
financial institutions improve consumer service?
Frequency
a) Yes 28
b) No 2
Interpretation: From the above graphical information it is interpreted that out of the
total 30 participants majority of the 28 participants responded have stated that Artificial
Intelligence can help financial institutions in improving consumer service. On the other hand the
remaining minority of 2 respondents believe that it cannot support financial institutions in
improving consumer service. This showcases that large number of employees have agreed with
the advantage delivered by Artificial Intelligence for business enterprises working in the
financial service industry. It is determined that usage of Artificial Intelligence is advantageous
for organizations as it helps enhance consumer service.
Q3. How will Artificial Intelligence help financial institutions improve
services offered to the consumers?
Frequency
15

a) By improving consumer experience 8
b) By supporting adherence of the company to legal requirements 10
c) By improving organizational efficiency 4
d) By offering interactive technology 8
Interpretation: From the above graph it is interpreted that out of the overall 30
employees 8 have stated that 8 have stated that artificial intelligence technology provides
assistance to financial institutions in improving their consumer service by enhancing their
consumer service while 10 respondents have stated that AI helps financial institutions improve
services offered to consumers by providing assistance to fulfil legal needs of the company. In
addition to this, 4 respondents have selected the option of improving organizational efficiency
for determining the ways in which AI can support financial institutions in improving services
offered in the market. The remaining 8 employees have selected offering interactive technology
as their answer. It is determined form the above data analysis that the usage of Artificial
Intelligence is beneficial for enterprises working in the finance service industry because it can
lead to many advantages such as better consumer experience, support to the company in
accomplishing legal outcomes and improving organizational efficiency. These advantages can
support the organization in ensuring continuous growth and achieving business objectives in any
type of organizational activity.
16

Q5. How can Artificial Intelligence help Visa succeed in various
business endeavours?
Frequency
a) Realistic interaction interface 7
b) Higher Connectivity 6
c) Better consumer insights 14
d) All of the above 3
Interpretation: From the above graph it is determined that out of 30 respondents 7
consider the option of realistic interaction interface to answer the question about the ways in
which AI can help Visa succeed in future business endeavours. As per six respondents it is
determined that higher connectivity is the reason behind artificial Intelligence helping Visa
succeed in various business endeavours. A higher number of 14 respondents have stated that
better consumer insights provided by Artificial Intelligence help Viva succeed in different
entrepreneurial endeavours. Finally, 3 leftover participants have agreed with the option all of the
above for answering question about ways in which AI can help Visa succeed in various business
endeavours.
Q6. As per your viewpoint, is development of Artificial Intelligence Frequency
17

platform in house beneficial for Visa?
a) Yes 20
b) No 10
Interpretation: From the above graphical information it is interpreted that out of 30
respondents 20 have opted to agree with the statement that development of Artificial Intelligence
technology by the financial service company Visa in house is beneficial for the firm. On the
other hand, the remaining 10 respondents have stated that the development of an in-house
platform for Artificial technology is not beneficial for the motional firm Visa.
Q7. What are the main challenges of using AI in the financial service
industry?
Frequency
a) Cyber Security Challenges 10
b) Data privacy challenges 6
c) Installation challenges 3
d) All of the above 11
18

Interpretation: From the above graphical information it is determined that out of 30
respondents 10 have provided the answer that cyber security challenges are the main challenges
affecting the usage of Artificial Intelligence technology at financial service industry enterprises.
On the other hand, data privacy challenges are the primary challenges associated with the usage
of Ai in the financial service industry according to 6 respondents. The other 3 respondents have
stated that installation challenges associated with the usage of Artificial Intelligence are the main
challenges associated with its usage in context of the financial services industry.
Q8. In your opinion what is the main limitation of investing in AI
development in context of Visa?
Frequency
a) High costs of development 9
b) Uncertainty about future applications 4
c) Decrease in human interaction leading to alienation of employees 10
d) AI dependency can reduce thinking power of employees 7
19

Interpretation: From the above graph it is interpreted that out of 30 respondents 9
have stated that high costs of development is the primary limitation identified in case of
Visa investing in Artificial Intelligence technology. In addition to this four respondents
have stated that uncertainty associated with the future applications of Artificial
Intelligence is main limitation which will have negative impact on the Visa. As per the
views of majority of 10 respondents decrease in human interaction creating alienation
among employees is the main limitation having negative influence on the investment of Visa
in artificial Intelligence technology. Finally the remaining 7 respondents have agreed with
the option that Artificial intelligence dependency leading to reduction in thinking power of
employees is the primary factor negatively affecting Visa and acting as limitation in its
investment in Artificial Intelligence technology.
Q9. What are strategies can be used by Visa to effectively utilize AI
and achieve success in various endeavours?
Frequency
a) Providing employees training 12
b) Developing cyber protection strategies 4
c) recruiting technically skilled employees 4
d) All of the above 10
20

Interpretation: From the above provided graphical data it is interpreted that out of 30
respondents 12 have stated that providing employees training is the most effective strategy for
Visa to ensure effective usage of Artificial Intelligence technology to ensure that the company
achieves various organizational endeavours. On the other hand, 4 respondents have stated that
development of cyber protection strategies is the most effective strategy for the multinational
financial organization Visa to ensure suitable usage of Artificial Intelligence technology. In
addition to this, another 4 participants have answered with the response that Recruiting
technically skilled employees is the most beneficial strategy for Visa so that it uses Artificial
Intelligence in an effective manner and achieves the best entrepreneurial outcomes. Finally many
of the respondents have answered that using all the above options and applying the best
strategies as stated above is the best way for Visa to ensure that Artificial Intelligence us being
implemented in an effective manner leading to success in entrepreneurial operations.
Q10. What future benefits can be gained by Visa by investing in AI? Frequency
a) Better product development 7
b) Improved global reach 10
c) Higher responsiveness 5
d) All of the above 8
21

Interpretation: From the above graphical data it is concluded that according to 7
respondents better product development is the most effective benefit gained by the financial
institution Visa for its investment in developing Artificial Intelligence technology. In addition to
this, improvement in global reach of the organization is stated by 10 respondents as the most
important benefit gained by Visa for the respective organization. In addition to these 5
respondents have agreed with the option high responsiveness in response to the question about
the future benefit gained by Visa in exchange of the investment made by the company in
Artificial Intelligence. Finally the remaining 8 respondents have stated that the answer option all
of the above for determining the most effective future benefit gained by the financial intuition
Visa for development of Artificial Intelligence technology.
22

Conclusions and recommendations
It has been concluded that AI has significant role in the growth of Visa in financial service
industry also. It has been seen that AI changing the effectiveness of product and services
which is offered by Finance industry, along with that it provided effective methods to
record, maintain and analyse the data to enhance customer experience. Moreover, it also
speeds up, simplify as well as reformulate traditional methods in order to make them it more
productive. The researcher conducts deep investigation by using quantitative methods as
well as positivism philosophy in order to collect accurate information related to the topic
(Xu and et. al., 2022). For that they collected data after preparing questionaries’ in order to
ask question form selected respondent. As the result of this they It has been identify that AI
make the various finance process is less time or cost consuming which enable the firm the
save their resources for productive use in future. It helps the management to make their
services more secure or effectives. By using Artificial intelligence and its various features
like digital security, data analysis and others which make the information of company and its
employees more secure from any misconduct. the company which provide financial services
must adopt the advance technology and software in order to make their services beneficial
for clients.
It has been determined that in recent times, almost all big organisation adopted along with
implemented AI technology in their operations for increasing the effectiveness of their
services. By conducting the survey, the researcher determined that AI enable the employees
to complete their specific task in lesser time or cost as well as give more focus to develop
some innovation in their organisation in order to make it different. There are various role
and benefit of AI like Better regulatory compliance and fraud detection, Robotic automation
and digitalisation of services, Better customer experience along with Realistic interactive
interface. All these leads to increase the profitability and brand value of company which
make them a leading organisation in their industry. It is also seen that AI has great future
and role in the development of industry which enable employees to provide better quality
services to meet needs and desired outcomes of customers. It is concluded that Artificial
intelligence is most effective technology but there are also some drawbacks for that the
company must make effective strategy to implement it in their operations for better success
level.
23

Recommendations
According to the above conducted research it has been recommended to the management of
Visa that they can use the innovative technology like AI in their business activities to increase
the quality of their services. Such as they can also use in their Financial department to record all
the transactions in systematic manner as well as use it to make effective strategy for future
growth. It enables them to record data in systematic manner which help them to secure the
valuable information of their clients to increase their experience. It also helps them to detect
errors in their process, accounting systems as well as operations in order to solve it for better
performance (Meuwissen and Watson, 2022).
By using AI in their services they can also allow customers to give their feedbacks or ask
questions about their issues related to the services provided to them. It can also allow them to
interact better with customers in order to used their suggestions for future betterment of their
company. Artificial Intelligence is the most growing technology in recent time which enable the
firm to implement automation in their operations which leads to increase in their sales or
revenue. They can also use AI in their marketing and other operations in order to improve overall
effectiveness of organisation.
While conducting the research and investigation it has been noticed that people in the
organisation has less information about the application AI software in their working. So the it is
recommended to HR professionals that they must provide proper training to the employees so
they can easily adopt this technology in their working to provide better financial services to the
targeted customers (Lane and Roberts, 2022). It helps them to compete with the big organisation
as well as increase their customer base in all over the world. Along with that in order to use this
technology in effective manner in their operations they need to determine the various problems
which they want to reduce with AI. Further, they can implement it in operations by setting short
terms goals to find out it is beneficial or not. It is determining that the Company must make
effective strategy to implement AI such as they must link human evaluation and machine
learning automation with the data to complete the project. Along with that generate a flexible
development method which adopt the recent trends easily (Lang and Cupchik, 2021)
Also by using this they can also expand their business on online platform where they can
provide all the details related to the product and services they offered which enable customers to
know more about the company. By this they can connect better with people and know about the
24

condition of market in order to use it in new way. It has been recommended to the professionals
of Visa that they must determine the advantage and limitations of AI technology before
implement it in order to reduce the complexity in future (Bowman, 2021). They can also make
proper plan by collecting all the necessary resources to apply this technology and convince
employees to use it to increase their productivity for the achievement of organisation goals. It
also helps them to take decisions regarding their organisation operations, employee’s welfare and
growth which leads to increase the motivation level of employees.
Poster
25

Reflective Statement
The above conducted research is very helpful, informative and knowledgeable for me as it
helps me to gain various information related to the specific topic which can further enable me to
done more projects in specific manner. It has been determined that the selected topic for this
report is the role of AI in the remote area for future better services and growth. As previous I did
not much about the AI technology but while conducting the research on it I developed my
understanding about this technology such as its importance, usage, working and drawbacks.
Artificial Intelligence is the advance technology which used to conduct systematic and automatic
working in order to complete the task in less time or cost. It has been seen that it is most
effective technology which enable the finance manager to record and manage the data as well as
financial data in right manner in that specific account in order to analysis that at the end of every
year to find out the accurate position of the company. It helps them to determine the gap among
the balance to reduce mistakes and many more. In this I conducted quantitative research in which
I collect numerical data of company to complete the project in effective manner. For that I use
primary and secondary data by conducting survey which is very effective or interesting which
allow me to use valid data to compete the project efficiently. Such as during the time of survey I
got to know the mind-set and thinking of people related to AI technology and their knowledge as
how they use this technology in their working for the future development.
The selected method is quantitative research in which related to collected of numerical data
by analysing the response of selected respondent which provide the clear information about the
working and culture of that particular company. In the investigation, I collected sample of 30
candidates in order to find out the role of AI in their current as well as future working which
leads to increase in their productivity or performance. Quantitative research enables me to
develop my knowledge about the topic and technology in boarder term which further helps me to
conduct research in professionalism manner. It allows me to about how large number of people
think about the AI technology like it is beneficial for them or not. Further, by this research I got
accurate and clear data which make my project more reliable like there are long variables
included with quantitative research.
At initial stage I found difficulties to interact with respondent in order to collect data
related to the topic. But after developing my understanding regarding people and technology I
felt confident to conduct my survey along with investigation to accomplish the goal of project in
26

less time or cost effectively. With this methodology the positivism philosophy is selected for
determining effective strategy as well as method for Visa that supports better implication of the
AI to have higher future success level and endeavours. It provides more relevant content which is
very useful for practical implications in order to develop better insight about the current situation
in order to take correct measures for future development. Moreover, with lots of benefits and
advantage of this method there is also some drawbacks which I need to be considered for future
projects like it is time consuming and expensive method along with some time I can be
misleading the real concept of project. It needed huge resources and large number of respondent
in order to collect the accurate data to complete the project effectively. It has been analysed that I
can also use qualitative research method which enable me to get theoretical information about
the Topic and organisation to accomplish the objectivities. It is also most effective method which
provide me clear information about the respondent like their task, background, role,
responsibility and many others.
Further, I can also use the mix of both the methods in order to add some specific
information in my project which will give clear insight about the topic to the readers. I also use
various other things for my investigation which leads to increase my knowledge and
understanding related to the various topic which further make me a professional in this field
along with enable me to complete my project in less time or cost. During this project I developed
my knowledge regarding how I can interact and communicate with selected respondent as well
as ask more relevant question which provide me clear information that is useful for me to
complete the research in specific manner. Such as I also need to develop my skills or capabilities
to determine the correct method as per the requirement of topic in order to provide clear
information and solution to readers or others.
27

References:
Books and Journals
Ahn, M. J. and Chen, Y. C., (2022). Digital transformation toward AI-augmented public
administration: The perception of government employees and the
willingness to use AI in government. Government Information
Quarterly, 39(2). p.101664.
Alhayani and et. al., (2021). Effectiveness of artificial intelligence techniques against cyber
security risks apply of IT industry. Materials Today: Proceedings.
Alhayani and et. al., (2021). Effectiveness of artificial intelligence techniques against cyber
security risks apply of IT industry. Materials Today: Proceedings.
Ashok and et. al., (2022). Ethical framework for Artificial Intelligence and Digital
technologies. International Journal of Information Management, 62.
p.102433.
Bécue, A., Praça, I. and Gama, J., (2021). Artificial intelligence, cyber-threats and Industry 4.0:
Challenges and opportunities. Artificial Intelligence Review, 54(5).
pp.3849-3886.
Bowman, M., (2021). A framework for scaffolding academic reflective writing in
dentistry. European Journal of Dental Education, 25(1). pp.35-49.
Coeckelbergh, M., (2020). AI ethics. Mit Press.
Daniel, B. K., (2018). Empirical verification of the “TACT” framework for teaching rigour in
qualitative research methodology. Qualitative Research Journal.
Eisend, M. and Kuss, A., (2019). Research methodology in marketing. Cham, Switzerland:
Springer International Publishing.
Finlayson and et. al., (2021). The clinician and dataset shift in artificial intelligence. The New
England journal of medicine, 385(3). p.283.
Gunasekeran and et. al., (2021). Applications of digital health for public health responses to
COVID-19: a systematic scoping review of artificial intelligence,
telehealth and related technologies. NPJ digital medicine, 4(1). pp.1-6.
Hu and et. al., (2021). Construction of an AI-driven risk management framework for financial
service firms using the MRDM approach. International Journal of
Information Technology & Decision Making, 20(03). pp.1037-1069.
28

Huang, M. H. and Rust, R. T., (2021). A strategic framework for artificial intelligence in
marketing. Journal of the Academy of Marketing Science, 49(1). pp.30-50.
Knottnerus, J. A. and Tugwell, P., (2018). Ethics of research methodology requires a
methodology of research ethics. Journal of Clinical Epidemiology, 100.
pp.v-vi.
Lane, A.S. and Roberts, C., (2022). Contextualised reflective competence: a new learning model
promoting reflective practice for clinical training. BMC Medical
Education, 22(1). pp.1-8.
Lang, J. and Cupchik, G.C., (2021). “The Story is My Life”: Bridging Symbol to Self in a Novel
Creative and Reflective Writing Task. Creativity. Theories–Research-
Applications, 8(2). pp.4-19.
Madhav, A. V. and Tyagi, A. K., (2022). The world with future technologies (Post-COVID-19):
open issues, challenges, and the road ahead. In Intelligent Interactive
Multimedia Systems for e-Healthcare Applications (pp. 411-452).
Springer, Singapore.
Melnychenko, O., (2020). Is artificial intelligence ready to assess an enterprise’s financial
security?. Journal of Risk and Financial Management, 13(9). p.191.
Meuwissen, A.S. and Watson, C., (2022). Measuring the depth of reflection in reflective
supervision/consultation sessions: Initial validation of the Reflective
Interaction Observation Scale (RIOS). Infant Mental Health
Journal, 43(2). pp.256-265.
Mishra and et. al., (2020). AI in Manufacturing and Green Technology: Methods and
Applications. CRC Press.
Ndlovu-Gatsheni, S. J., (2019). Provisional notes on decolonizing research methodology and
undoing its dirty history. Journal of Developing Societies, 35(4). pp.481-
492.
Niederman, F., (2021). Project management: openings for disruption from AI and advanced
analytics. Information Technology & People.
Okuda, T. and Shoda, S., (2018). AI-based chatbot service for financial industry. Fujitsu
Scientific and Technical Journal, 54(2). pp.4-8.
Singh, K. K., (2022). Research Methodology in Social Science. KK Publications.
29

Xu and et. al., (2022). Fostering Work-integrated Learning in Hospitality and Tourism: An
Integration of Leximancer and Students’ Self-reflective Statement
Approaches. Journal of China Tourism Research, pp.1-25.
Zhang, and et. al., (2021). Factors influencing the use of artificial intelligence in government:
Evidence from China. Technology in Society, 66. p.101675.
Zhang, C. and Lu, Y., (2021). Study on artificial intelligence: The state of the art and future
prospects. Journal of Industrial Information Integration, 23, p.100224.
Online:
10x DS (2022) Top 10 Benefits of Artificial Intelligence (AI). (2020). Available at:
<https://10xds.com/blog/benefits-of-artificial-intelligence-ai/>
Actico (2022) Top 5 Benefits of Artificial Intelligence in Banking and Finance. (2021). [Online]
Available at: <https://www.actico.com/blog-en/top-5-benefits-of-ai-in-
banking-and-finance/>
Columbus, L. (2020) 'The State Of AI Adoption In Financial Services' Forbes, October 31.
Available at: https://www.forbes.com/sites/louiscolumbus/2020/10/31/the-
state-of-ai-adoption-in-financial-services/?sh=5ca3618f2aac>
Pokora, B. (2022) '9 Interesting Credit Card Statistics', Forbes Advisor, June 8. Available at:
https://www.forbes.com/advisor/credit-cards/credit-card-statistics/>
Visa (2021) Building Visa’s AI supercomputer becomes ultimate test in speed Available at:
https://usa.visa.com/visa-everywhere/blog/bdp/2021/07/15/ai-
supercomputer-becomes-1626368227416.html>
Visa (2022) Visa Direct, helping transform global money movement Available at:
https://www.visa.co.in/run-your-business/visa-direct.html>
30

Appendix
Work-plan
Research Activities Week
1
Week
2
Week
3
Week
4
Week
5
Week
6
Week
7
Week
8
Week
9
Week
10
Introduction
(background, rationale of
the study, aims, research
objectives, research
questions.)
Research methodology
Literature Review
Creating questionnaire/
interview questions
Collection of Data
Analysis and synthesis of
Data
Conclusion and
Recommendation
Reflective Statement
preparation
Evidence of the collected Data
Questionnaire
Q1) Do you agree with the statement that Artificial Intelligence development will
support technological advancement of the financial service industry?
a) Yes
b) No
Q2) Do you believe that Artificial Intelligence technology can help financial
institutions improve consumer service?
a) Yes
31

b) No
Q3) How will Artificial Intelligence help financial institutions improve services
offered to the consumers?
a) By improving consumer experience
b) By supporting adherence of the company to legal requirements
c) By improving organizational efficiency
d) By offering interactive technology
Q4) What factors of Artificial Intelligence help financial businesses expand to
remote locations?
a) Realistic interaction interface
b) Higher Connectivity
c) Better consumer insights
d) All of the above
Q5) How can Artificial Intelligence help Visa succeed in various business
endeavours?
a) By supporting expansion to remote areas
b) By improving personalization
c) By supporting faster digitization
d) All of the above
Q6) As per your viewpoint, is development of Artificial Intelligence platform in
house beneficial for Visa?
a) Yes
b) No
Q7) What are the main challenges of using AI in the financial service industry?
a) Cyber Security Challenges
b) Data privacy challenges
c) Recruiting technically skilled employees
d) All of the above
Q8) In your opinion what is the main limitation of investing in AI development in
context of Visa?
a) High costs of development
32

b) Uncertainty about future applications
c) Decrease in human interaction leading to alienation of employees
d) AI dependency can reduce thinking power of employees
Q9) What are strategies can be used by Visa to effectively utilize AI and achieve
success in various endeavours?
a) Providing employees training
b) Developing cyber protection strategies
c) Installation challenges
d) All of the above
Q10) What future benefits can be gained by Visa by investing in AI?
a) Better product development
b) Improved global reach
c) Higher responsiveness
d) All of the above
33