PayPal Hires Walmart Exec as CTO for AI

PayPal has announced the appointment of Srini Venkatesan, a top tech executive from Walmart, as its new Chief Technology Officer. Venkatesan will spearhead the company’s advancements in artificial intelligence, machine learning, information security, and product engineering.

Under the leadership of CEO Alex Chriss, who took the helm in September, PayPal is focusing on harnessing the power of AI to boost its offerings. Chriss, who has labeled 2024 as a “transition year” for PayPal, aims to enhance the company’s revenue streams beyond traditional transaction volumes. The recent launch of AI-based products, such as a platform that helps merchants attract new customers by analyzing their shopping history, is a testament to this strategy.

Venkatesan’s extensive experience, including leading a 14,000-member team at Walmart’s U.S. Omni Platforms and Tech organization, is expected to be instrumental in PayPal’s AI-driven transformation. His expertise in technology and digital innovation aligns with PayPal’s mission to revolutionize global commerce.

Chriss expressed confidence in Venkatesan’s ability to drive the company forward, stating, “Srini’s experience in leading technology and AI personalization will be invaluable as we execute our mission.” This strategic move signifies PayPal’s commitment to leveraging advanced technology to enhance its services and expand its market reach.

Check out more on Paypal’s upcoming features here.