PayPal Appoints Walmart’s Srini Venkatesan as New Chief Technology Officer to Drive AI Innovation

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PayPal has announced the hiring of Srini Venkatesan, one of Walmart’s top tech executives, as its new chief technology officer. Venkatesan’s appointment comes as PayPal aims to bolster its advancements in artificial intelligence (AI) and machine learning. He will oversee the company’s technology strategies, encompassing AI and machine learning, information security, and product engineering.

Under the leadership of PayPal’s CEO Alex Chriss, who joined the company in September, PayPal has sought to capitalize on investor interest in AI. In January, the company introduced new AI-based products, including a platform that helps merchants reach new customers based on their shopping history. Chriss has labeled 2024 as a “transition year” for PayPal, with a focus on expanding revenues beyond transaction-related volumes.

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

Venkatesan previously led a team of 14,000 in Walmart’s U.S. Omni Platforms and Tech organization, which is responsible for developing platforms to support the retailer, including aspects of the Walmart+ subscription service.

Current PayPal chief technology officer Archie Deskus has decided to leave the company and will depart in July after supporting the transition to Venkatesan.