PayPal Appoints Srini Venkatesan as CTO to Lead AI Push

PayPal has announced the appointment of Srini Venkatesan, a prominent tech executive from Walmart, as its new Chief Technology Officer (CTO).

PayPal CTO Srini Venkatesan

This strategic move is part of PayPal’s effort to strengthen its focus on artificial intelligence and digital transformation.

Srini Venkatesan will be responsible for overseeing PayPal’s technology landscape, which encompasses AI and machine learning, information security, and product engineering. His appointment comes under the leadership of PayPal CEO Alex Chriss, who joined the company in September.

Alex Chriss has been working to capitalize on investor interest in AI, exemplified by the introduction of new AI-based products in January. These products include a platform designed to help merchants attract new customers by analyzing their prior shopping history.

Alex Chriss has designated 2024 as a “transition year” for PayPal, emphasizing a commitment to expanding revenues beyond just transaction-related volumes, Reuters news report said.

At Walmart, Srini Venkatesan led a team of 14,000 professionals within the U.S. Omni Platforms and Tech organization, which developed platforms to support the retailer, including aspects of the Walmart+ subscription service.

Prior to Walmart, Srini Venkatesan oversaw Yahoo’s display and video ad technology platform. Earlier in his career, he led product and technology teams at eBay and was Chief Technology Officer at StubHub and Marketo. Srini Venkatesan earned a bachelor’s degree in electrical engineering from Bharathiar University.

PayPal also announced that its current CTO, Archie Deskus, will be departing the company in July. Archie Deskus will stay on to support the transition process before her departure.

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