AI acquisitions eyed
Square has also been very acquisitive over the years, and recently bought OrderAhead, a company that lets people order food via an app and then go to collect it. Dorsey told CNBC the company is looking for further acquisitions and "interesting teams and products" in markets across the world, particularly in the machine-learning space. This refers to artificial intelligence and automation. Dorsey said developing or acquiring such software would allow Square to get a deeper insight about the risk profile of its merchants to be able to offer them more products.
"So machine learning and folks who have more of a data science, algorithmic background are teams that we're very interested in right now, and that's both from a risk standpoint but also more automation and taking less mechanical action as a seller so that you can … Just let Square do the right thing to provide you an insight about your business and the growth," Dorsey said.
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