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Generation Z in Singapore exhibits remarkable awareness and optimism towards generative artificial intelligence, with 84% of respondents familiar with the technology and 80% optimistic about its potential in the banking industry. Over 60% of Gen Z consumers show strong interest in the diversity of AI applications in banking services, particularly in fraud detection and answering inquiries about banking products. Nearly 70% of consumers hope to use AI for retirement planning, bill payment updates, and expense tracking analysis. Gen Z's interest in AI personal shopping assistants is especially notable, with 43% having already experienced AI in online shopping.

As sales surge during the holiday shopping season, Visa faces an increase in cybercrime attacks and employs artificial intelligence tools to prevent fraud. With an investment of over $3 billion, Visa has built a robust anti-fraud system that analyzes transactions in real-time and assesses 500 unique risk factors. Despite using AI to combat crime, Visa emphasizes the crucial role of human intelligence in collaboration, working with merchants and other entities to address potential fraud.

Visa has announced the launch of a $100 million generative AI venture capital program to support emerging companies developing generative AI technologies that will transform the future of business and payment systems. The program is overseen by Visa Ventures and focuses on investing in startups within the generative AI technology sector, providing significant support for the industry's future development. Visa's involvement signifies the tremendous growth opportunities for generative AI technologies, which are expected to revolutionize multiple industries and bring unprecedented innovation and change. Visa has always been committed to leading payment innovation through generative.

E-commerce, retail, and mass merchants are increasingly relying on artificial intelligence to combat payment fraud. Visa's semi-annual threat report reveals this trend, highlighting a surge in ransomware attacks, with recent attacks increasing by 91%. Fraud investigations are mainly focused on online merchants. Visa's investments in artificial intelligence have successfully reduced payment fraud. Visa's 24/7 Risk Operations Center has prevented nearly 53 million fraudulent transactions worth $32 billion.

OpenAI CEO Sam Altman has become the first recipient of Indonesia's golden visa for AI investors. The new visa allows holders to stay for up to 10 years while enjoying various benefits. Altman's visit signals an increase in investments in the field of artificial intelligence, which is expected to boost the development of the Indonesian and Southeast Asian markets.