AI Investigation: Improving Visa's Accessibility & Competitiveness

This report investigates the role of Artificial Intelligence (AI) in improving Visa's accessibility to remote areas, enhancing competitiveness, and ensuring future success within the finance service industry. It highlights the benefits of AI, such as improved responsiveness, efficiency, and customer service, while focusing on Visa's use of credit card services like Visa Direct. The research examines the significance of AI for the financial industry and Visa, analyzing its role in supporting expansion to remote areas and improving service levels. It also explores effective strategies for Visa to better implement AI for future success, emphasizing the need for employee training and investment in AI technology. The methodology employs a positivism research philosophy and a deductive approach, utilizing survey strategies to collect data. The report concludes with recommendations for Visa to leverage AI for continued growth and success in the financial sector. Desklib provides access to similar past papers and solved assignments for students.

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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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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.
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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
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(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
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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
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