PayPal Appoints Walmart Executive as Chief Technology Officer

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Paypal
Paypal

PayPal has announced the appointment of Srini Venkatesan, a former top tech executive at Walmart, as its new Chief Technology Officer (CTO) to spearhead the company’s advancements in artificial intelligence (AI) and other key technology areas, Reuters reported on Thursday.

In his new role, Venkatesan will oversee technology initiatives across PayPal, focusing on AI and machine learning, information security, and product engineering. This move comes as PayPal under CEO Alex Chriss seeks to capitalize on the growing investor interest in AI, with recent announcements of AI-driven products aimed at enhancing merchant capabilities and customer engagement based on past shopping behavior.

Chriss, who took the helm in September, emphasized 2024 as a pivotal year for PayPal’s strategic evolution beyond transaction volumes, aiming to drive revenue growth through innovative technological solutions.

“Srini’s expertise in leading technology, digital transformation, and AI personalization at major industry players will be crucial as we continue to revolutionize global commerce,” Chriss remarked in a statement.

At Walmart, Venkatesan managed a team of 14,000 within the U.S. Omni Platforms and Tech organization, responsible for developing platforms supporting various aspects of Walmart’s operations, including initiatives like the Walmart+ subscription service.

Meanwhile, Archie Deskus, PayPal’s current CTO, will be departing the company in July after aiding in the transition process.

Venkatesan’s appointment underscores PayPal’s commitment to leveraging cutting-edge technology to enhance its market position and expand its service offerings in the competitive digital payments landscape.

For further updates on PayPal’s technological advancements and strategic developments, stay tuned.

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