Visa Inc.’s Chief Executive Officer, Ryan McInerney, has announced that the growing use of artificial intelligence (AI) shopping agents will necessitate significant adaptations in both the advertising and payments industries. The company is at the forefront of this change, developing AI agents designed to streamline the online shopping experience by reducing the time and effort consumers expend searching for and purchasing products or services.
Visa’s AI Initiative
Visa is collaborating with major AI firms, including Anthropic PBC, Microsoft Corp., and OpenAI Inc., to launch its AI-powered shopping agents. This development is poised to revolutionize the way consumers interact with online commerce, making the process more efficient and personalized.
Impact on Advertising and Payments
The rise of AI shopping agents, as highlighted by McInerney, will likely force the advertising sector to evolve. Traditional advertising methods may become less effective as AI agents take over the task of product discovery. Consequently, advertisers will need to adapt their strategies to effectively reach consumers through these new channels.
Similarly, the payments industry will also be impacted. With AI agents handling transactions, payment processing companies like Visa will need to integrate their services seamlessly with these AI platforms. This integration could lead to new innovations in payment technologies, enhancing security, speed, and user experience.
Conclusion
Visa’s move into AI-powered shopping agents marks a significant step in the evolution of e-commerce. As this technology advances, it is expected to bring about substantial changes in how businesses approach advertising and payment processing, ultimately shaping the future of online commerce.
