PayPal headhunts Walmart's star man to lead AI drive

PAYPAL has headhunted one of US retail's leading tech executives as it looks to reshape its future with the pursuit of artificial intelligence.

The San Jose firm landed Srini Venkatesan - one of Walmart's brightest stars - to lead its AI work as Chief Technology Officer.

It is understood PayPal is keen to utilise AI across much of its business, including machine learning, security and product engineering.

The payment giant has spent much of 2024 engaging with users about the future use of AI, with new CEO Alex Chriss describing 2024 as "a transition year".

“As we execute our mission to revolutionise commerce globally, Srini’s experience leading technology, digital transformation and AI personalisation from inside some of our largest customers and partners will be invaluable," Chriss explained.

At Walmart, Venkatesan had a team of more than 14,000 using various successful tech platforms he introduced.

PayPal's current CTO, Archie Deskus, will be handing over to Venkatesan before departing in July.