Dive Newsdesk: BofA exec says industry must work through agentic commerce ‘complexity’

Core Insights - The concept of agentic commerce, where AI shopping agents assist consumers in online purchases, is gaining attention in the payments industry [1][2] - Bank of America is exploring the use of AI to enhance operational efficiency within its global payments solutions unit, indicating a significant potential for technological advancements in the sector [2] Group 1 - The Money20/20 conference highlighted the functionality of AI shopping agents, allowing consumers to specify detailed purchase criteria [2] - Bank of America's head of vendor management emphasized the need for the payment industry to prepare for the complexities introduced by AI in commerce [2] - The bank views its current AI initiatives as just the beginning of a broader application of technology to improve business processes [2]