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

Business Consultancy
Report

Table of Contents
TITLE: Investigation into role of AI in improving accessibility of Visa to remote areas
enhancing competitiveness and success in future endeavours. .......................................................1
Chapter 1: Introduction....................................................................................................................1
Background of the project ..........................................................................................................1
Research Problem .......................................................................................................................1
Aims and Objectives ..................................................................................................................2
Research Rationale .....................................................................................................................2
Research Questions ....................................................................................................................3
Chapter 2: Literature Review ..........................................................................................................3
Introduction ................................................................................................................................3
Significance of AI for financial industry and Visa ....................................................................3
To analysis the role of AI in supporting expansion to remote areas as well as improving the
level of services for better future Endeavours.............................................................................5
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. ..................................................7
Conclusion ..................................................................................................................................8
Methodology (1500)........................................................................................................................8
Findings and solutions (2000)..........................................................................................................9
Analysis (750)..................................................................................................................................9
Conclusions and recommendations (1000)....................................................................................10
References:.....................................................................................................................................11

TITLE: Investigation into role of AI in improving accessibility of Visa to
remote areas enhancing competitiveness and success in future endeavours.
Chapter 1: 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?
Chapter 2: 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.
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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 dirt is worlds 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
(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 element 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 share. 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
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