Visa has partnered with the Department for Science, Innovation and Technology (DSIT) to help fund scholarships for artificial intelligence (AI) and data science.

Visa said funding is aimed at postgraduate students from underrepresented backgrounds on conversion courses at the University of Leeds and Loughborough University.

The partnership is part of the UK Government's strategic AI skills scheme, launched by DSIT, and implemented by the Office for Students (OfS). Visa said the scheme is aimed at tackling the shortage of skilled technology professionals and aims to boost the industry in the long term.

The payment firm said it would fund three scholarships over the next academic year, with the government funding an additional nine scholarships. It added the funding will enable more women, Black students, disabled students, and students from lower socioeconomic backgrounds to enter the technology sector, equipping them with the skills they need to succeed while also benefitting the wider UK economy.

“Visa has harnessed the power of AI to fight fraud for over 30 years now,” said Mandy Lamb, managing director, UK & Ireland at Visa. “We believe that it can fundamentally transform financial services for the better, improving the financial lives and wellbeing of individuals, businesses, and the UK economy.

“As a result, it’s of paramount importance that we do all we can to nurture and develop skills and talent across topics such as coding, programming, and practical AI data science.”

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