Visa’s AI edge: How RAG-as-a-service and deep learning are strengthening security and speeding up data retrieval
Visa's use of gen AI tools has significantly improved data retrieval times, reducing them from hours to minutes. Additionally, the tools have helped block $40 billion in fraud, showcasing their effectiveness in enhancing security measures. This demonstrates the power of leveraging advanced technologies for financial services like Visa. The company's investment in gen AI tools has proven to be a successful strategy for streamlining operations and combating fraudulent activities. The results highlight the importance of embracing innovation in the financial industry.
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Visa's Use of Generative AI
Global payments giant Visa operates in 200-plus countries and territories, all with their own unique, complex rules and regulations. Its client services team must understand those nuances when policy-related questions come up — like ‘are we allowed to process this type of payment in this country?’ — but it’s simply not humanly possible to know all those answers top-of-mind.
When generative AI emerged, Visa saw this as a perfect use case, applying retrieval-augmented generation (RAG) to not only pull out information up to 1,000X faster, but cite it back to its sources. This means they’ve typically had to track down relevant information manually — an exhaustive process that can take days depending on how accessible it is.
Visa's SVP of data and AI, Sam Hamilton, mentioned, “First of all, it’s better quality results. It’s also latency, right? They can handle a lot more cases than they were able to before.” This is just one way Visa is using gen AI to enhance its operations — supported by a deliberately-built, tiered tech stack — while managing risk and keeping fraud at bay.
Secure ChatGPT
Visa introduced 'Secure ChatGPT' to balance employee demand for AI tools with concerns about data security. This secure system runs internally on Microsoft Azure and ensures sensitive data remains protected.
Secure ChatGPT offers six different options and serves as a model-as-a-service or RAG-as-a-service, allowing users to choose the API that best fits their needs.
RAG-as-a-Service in Action
One of the most potent use cases for Secure ChatGPT is the handling of policy-related questions specific to a given region. Visa's AI quickly retrieves answers, provides citations and source materials, and offers narrowed answers based on reliable data.
Visa's Data Infrastructure
Visa's heavy investment in data infrastructure over the last decade has resulted in a robust tech stack comprising four layers. This infrastructure has enabled Visa to enhance its operations and manage risk effectively.
Fraud Prevention
Visa has invested heavily in fraud prevention, leveraging AI tools to block billions of dollars in attempted fraud. Deep learning models and real-time transaction risk scoring are key components of Visa's fraud prevention strategy.
Synthetic data is also used to augment existing data for simulations around fraud prevention, ensuring Visa stays ahead of potential threats in the evolving landscape of online transactions.
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