Visa's AI Strategy: Enhancing 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. It begins by introducing the background of the project and identifying the research problem, which focuses on how AI implementation affects Visa's performance and expansion. The report outlines the aims and objectives, including examining the concept of AI within the financial services industry, analyzing its role in supporting expansion to remote areas, and investigating effective strategies for Visa to better implement AI. The literature review highlights the significance of AI for the financial industry and Visa, emphasizing its applications in fraud detection, regulatory compliance, and improving customer experience. The BCG matrix is applied to understand the importance of AI for Visa, categorizing AI platform as a 'Question Mark' with high growth potential. The report further analyzes how AI supports expansion to remote areas by improving regulatory compliance, fraud detection, and enhancing digitalization processes. Desklib provides access to similar reports and solved assignments for students.

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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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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
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
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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
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
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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
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
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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
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 specifies 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.
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
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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. 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
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
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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. 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. 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 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.
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