Visa Joins Forces With UK Government To Empower Underrepresented Students With AI Scholarships

Global payments giant Visa is partnering with the UK government’s Department for Science, Innovation and Technology (DSIT) to co-fund data science and AI scholarships for students from underrepresented backgrounds.

The partnership stems from the UK’s National AI Strategy, which set out a vision to strengthen the UK’s position as an AI and science superpower over the coming decade.

The Launch of Visa’s AI Scholarships

The partnership aims to increase diversity in the technology sector, assisting women, Black students, disabled students, and those from lower socioeconomic backgrounds.

Visa said the scheme aims to tackle the shortage of skilled technology professionals and boost the industry in the long term.

For the 2023-24 academic term, Visa will financially support three scholarships; the UK government are funding an additional nine scholarships, bringing it to 12 altogether.

It will allow students to complete a postgraduate course at the University of Leeds and Loughborough University.

“A technology as diverse as AI needs a diverse workforce, and our scholarship programme is helping us to deliver exactly that by investing in skills and training to strengthen our incredible British talent pool,” said Minister for AI Jonathan Berry.

According to Finextra, Visa’s UK managing director, Mandy Lamb, said AI can improve financial services, improving the financial lives and wellbeing of individuals, businesses and the UK economy. 

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

Visa’s participation in the AI sponsorship scheme extends the Visa Scholarship Program, initiated in 2021, to nurture diverse talent in STEM fields.