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

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
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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
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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.
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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
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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
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