Visa, in collaboration with Microsoft and OpenAI, has launched a new platform that allows users to delegate their online shopping to AI agents. This innovative platform enables users to easily handle tasks like product searches, vacation bookings, grocery shopping, and other everyday tasks. Users only need to set their spending limits, and the AI agents will take care of the rest. This approach enhances the speed of shopping and provides a more seamless experience for customers.
The new service from Visa, called Visa Intelligent Commerce, helps simplify the shopping process for customers. AI agents perform tasks automatically and only involve the user in making the final decision. This method offers a faster and improved shopping experience, which is expected to encourage greater spending. The increase in online shopping due to the COVID-19 pandemic has made accelerating payment processes even more crucial. According to a 2020 study, one in three customers would abandon an online transaction if it took more than 30 seconds, highlighting the importance of speed in these platforms.
AI agents are systems capable of functioning independently without the need for constant human intervention. Unlike chatbots, these agents do not require customer guidance at every step. In the future, AI agents are expected to play a significant role in business strategies. According to Boston Consulting Group’s analysis, this market is projected to grow at an annual rate of 45% between 2024 and 2030.
In addition to partnering with Microsoft and OpenAI, Visa is collaborating with other tech giants such as Anthropic, IBM, Mistral AI, Perplexity, Samsung, and Stripe to leverage the potential of AI and transform online shopping into a more convenient and modern experience. This new platform is expected to benefit both users and businesses by enhancing the user experience and enabling faster decision-making and more efficient shopping processes.
