Consumers Do Not Trust AI and Harvey Increases Its Valuation
Visa research shows that consumers use AI assistants but are cautious about payments, while legal-focused AI startup Harvey has multiplied its valuation with new investments.
According to recent research shared by Visa, a large majority of consumers use AI assistants but do not share the same confidence regarding payment transactions. Meanwhile, Harvey, an artificial intelligence startup for the legal sector, completed a major funding round and significantly increased its valuation.
Use of AI Assistants is Becoming Widespread
According to a press release published by Visa, secure payment processes play a key role in consumers' willingness to participate in autonomous commerce.
Research results reveal that 72 percent of consumers have experienced AI assistants.
Lack of Trust in Payments Persists
According to the data obtained, only 23 percent of consumers in the U.S. trust generative AI to make payments on their behalf.
This shows that users act cautiously in financial matters while using artificial intelligence technologies in their daily tasks.
Payment Brands Refresh Trust
With the involvement of well-known payment brands in the process, there is a noticeable increase in consumers' trust rates.
Sixty-one percent of participants state that they can trust an established brand like Visa to manage autonomous transactions.
Trust is the Foundation of Autonomous Commerce
Visa Group President Oliver Jenkyn emphasized that the element of trust will be the fundamental building block that will ensure the adoption of autonomous commerce.
Giant Investment in Legal-Focused AI
Harvey, an artificial intelligence startup focusing on the legal field, raised $550 million in a new funding round, bringing its valuation to $15.5 billion.
The company, founded by Winston Weinberg and Gabe Pereyra, pushed its March valuation of $11 billion higher with this investment.
Positioning and Competition in the Market
With this latest funding secured, Harvey has claimed the title of the most valuable and best-funded startup in the legal AI space.
The company plans to use this investment to support law firms and professional services in building their own intelligence.