PayPal has appointed Srini Venkatesan, a top technology executive from Walmart, as its new chief technology officer to lead the company’s push into artificial intelligence. Venkatesan will be responsible for overseeing technology initiatives including AI and machine learning, information security, and product engineering.
Archie Deskus, PayPal’s current chief technology officer, will be leaving the company in July. Deskus will support the transition to Venkatesan before departing. PayPal expressed excitement about the contributions Venkatesan will bring to the company’s global commerce mission.
PayPal has been focused on leveraging AI technology under CEO Alex Chriss, who joined the company in September. The company has introduced new AI-based products, such as a platform for merchants to target new customers based on their previous shopping habits. Chriss has emphasized growth beyond transaction volume and sees 2024 as a transition year for PayPal.
Venkatesan brings experience leading technology, digital transformation, and AI personalization from his time at Walmart, where he oversaw a team of 14,000 in the U.S. Omni Platforms and Tech organization. This team was responsible for building platforms supporting Walmart, including aspects of the retailer’s Walmart+ subscription service.
