Visa is teaming with the Department for Science, Innovation and Technology (DSIT) to co-fund data science and AI scholarships for underrepresented postgraduate students.
This initiative is a part of the UK Government’s strategic AI skills scheme, introduced by DSIT and managed by the Office for Students (OfS). The scheme’s aim is to combat the lack of skilled technology professionals in the UK and ensure sustained demand for digital proficiency.
For the 2023-24 academic term, Visa will financially support three scholarships, which will be matched by the government, offering a total of 12 scholarships for underrepresented students.
The goal of the partnership is to increase diversity in the technology sector, assisting women, black students, disabled students, and those from lower socioeconomic backgrounds.
This venture echoes Visa’s longstanding commitment to valuing diversity, not just within its workforce, but also in its product development and the businesses it aids.
Visa’s engagement in the AI sponsorship scheme is an extension of The Visa Scholarship Programme, initiated in 2021 in collaboration with the Windsor Fellowship. This programme also aimed to nurture diverse talent in STEM fields.
Visa has a history of utilising AI technology, specifically in fraud detection for over three decades.
Minister for AI, Viscount Camrose said, “Emerging technologies like AI and data science are dramatically changing the way we live and work – and importantly, powering our economy with high-paid jobs now and into the future. A technology as diverse as AI needs a diverse workforce.”
Mandy Lamb, Managing Director, UK & Ireland, Visa, commented, “Visa has harnessed the power of AI to fight fraud for over 30 years now. We believe that it can fundamentally transform financial services for the better.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
