47% of respondents have a positive outlook on AI

The payment giant Visa conducted a survey in Italy on Artificial Intelligence (AI). 47% of respondents state that they have a positive view of AI and its capabilities. 

Visa Italia Report: cresce la fiducia e l’approccio positivo verso l’AI

Visa Italia conducted a survey regarding Artificial Intelligence, revealing that for 47% (almost half) of the Italians interviewed, there is a bull view on AI and its capabilities. 

This is a genuine growth of confidence towards technology, with almost 2 out of 5 Italians interviewed (39%) stating they have more confidence compared to a year ago. 

In the report “The Future is Here” by Visa, other interesting data emerge, such as the 44% of respondents who believe that AI can have a positive impact on personal life, while 43% believe it can provide support in the work environment. 

Not only that, the study highlights the key role assigned to AI in security, whether it is online banking operations and payments (41%) or fraud detection (39%).

In this regard, Stefano M. Stoppani, Country Manager Visa Italia, commented:

“These data highlight the growing importance of artificial intelligence in the Italian socioeconomic context. Security and reliability have always been a top priority for us. In 1993, Visa was the first network to implement AI-based technology for risk and fraud management, paving the way for the use of artificial intelligence models in payments. Our technology platform is one of the most powerful examples of the tangible benefits of artificial intelligence. In the past year, we have managed to prevent over 40 billion in fraud thanks to our technological investments, including those in AI.”

Visa Italia: AI for managing expenses and finance, in work, in frauds and security

The Visa report suggests other important data about Italians on the use of Artificial Intelligence. 

In fact, it emerged that 44% of the Italians interviewed believe that AI can have a positive impact on their personal life. Specifically, this confidence is more widespread among adults aged 45-64 (47%), followed by young people aged 18 to 34 (46%). 

Speaking of loan management, if AI were able to automate the process safely, then 28% of respondents would delegate to technology. Of these, 34% are adults in the 35-44 age group, while 23% are among young people between 18 and 34 years old.

Beyond loans, even investment management entrusted to AI is an activity considered among Italians. The report reveals that 26% of respondents would let AI manage their portfolio. Of these, 33% are the youngest in the age group 18-34 years. 

36% of Italian respondents would entrust AI with managing their expenses, such as paying monthly bills. Of these, 41% are adults in the 35-44 age group. 

Changing sector, Visa Italia conducted the survey on the use of AI also in the workplace. The result shows that 43% of Italian respondents believe that AI can have a positive impact on their professional life. The age group most open to this option is that of young people, (18-34 years old) who declare themselves in favor of its use.

A final sector for the use of AI is then that of fraud detection, where 39% of respondents believe that the technology has its greatest potential. Of these, 46% are over 65.

Not only that, AI in the security of banking operations and online payments is another category appreciated in Italy, with the 45-64 age group sharing this vision more than any other.

The VTAP to democratize the use of Ethereum for banks

Moving to the Blockchain sector, recently, Visa launched its latest initiative Visa Tokenized Asset Platform (VTAP), which aims to democratize the use of Ethereum for banks. The goal is to facilitate the issuance of tokens backed by fiat currencies. 

The idea of the payment giant is that with its VTAP, traditional finance can be pushed towards a more widespread adoption of the crypto and blockchain sector by 2025. 

To succeed in its endeavor, Visa leverages its strategic collaborations with global players. 

Among others, the Spanish banking giant BBVA has decided to focus on Ethereum as the reference blockchain for its digitalization and tokenization journey. 

Thanks to VTAP, BBVA will be able to issue and manage the tokens using this infrastructure, without having to develop one from scratch.