Visa and Mastercard are launching similar AI commerce initiatives, collaborating with OpenAI, while Kamel cautions consumers about AI spending risks.
2 reports, 2 independent
Updated Jul 29
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AI-generated analysis. Brind wrote this summary from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
Visa and Mastercard are launching similar AI commerce initiatives, collaborating with OpenAI, while Kamel cautions consumers about AI spending risks.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.OpenAI and Visa Inc. met to discuss AI development and economic policy.1 source
- Major companies including PayPal, Visa, Mastercard, and Microsoft are accelerating development in agentic AI commerce.Sub-event
- Visa appointed Jeremiah Dewey as global head of cyber products and launched a global advisory practice to empower clients.Sub-event
Visa and Mastercard are collaborating with OpenAI on AI commerce initiatives.1 source
Keep exploring
The entities involved
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OpenAI
American artificial intelligence research organization
- Leaders call for international cooperation on AI risks, tech leaders call for oversight, and the CMA proposes stricter search engine choice requirements.
- Experts, including Dario Amodei at Cornell University, warned about the power and limits of AI, specifically citing risks of AI taking control of the internet.
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Visa Inc.
American multinational financial services corporation
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Mastercard
American multinational financial services corporation
Related events
- Microsoft and Apple are partnering with OpenAI and Visa to build agentic commerce rails using layered AI platforms.
- OpenAI, Visa, and American Express are developing agentic commerce solutions and competing for market share.
- IBM partnered with OpenAI to integrate AI into consulting services.
- Tech enterprises jointly called for open AI models, contrasting with OpenAI's closed-source paradigm amid tightening US policy oversight.
- OpenAI and Stripe are co-developing an Agentic Commerce Protocol, with Brian Nowak providing expert commentary on AI adoption trends.
Coverage
Newest first; wire copies grouped- 41nbc.com
- GOBankingRatesGeorge Kamel: Visa Wants AI To Spend Your Money — 4 Reasons It’s Bad for Your Finances Artificial intelligence (AI) has infiltrated nearly every aspect of our lives, from our emails to the ads we see