How Generative AI Could Change Shopping Forever — With Rubail Birwadker

Conversational Commerce & AI - Conversational commerce, facilitated by generative AI, is poised to become a significant channel for transactions, complementing existing online and physical commerce [3][4][9] - Visa views the agentic era as the next evolution of commerce, emphasizing autonomy and personalization through better data and improved user identification [5][6] - The key to success lies in personalization and context, leveraging LLMs to understand user preferences and connect them to the outside world [13][14] - Visa is focused on ensuring that Visa cards work seamlessly within these new platforms, regardless of what consumers are buying, from whom, and where [30] - Visa is exploring how personalization, with consumer consent, can enhance the discovery process by leveraging spending preferences to provide more relevant recommendations [31][36][37] Security & Fraud Prevention - Visa is prioritizing security in agentic commerce by implementing high authentication measures, biometric authentication, and payment instructions to minimize fraud [45][47][48] - Visa is developing the Trusted Agent Protocol to differentiate between good and bad bots in the e-commerce infrastructure, enabling merchants to provide better experiences to legitimate agents [57][59][60] - Visa is actively monitoring agentic transactions to identify patterns and behaviors, allowing for continuous improvement in fraud prevention and dispute resolution [48][49][51] Market Trends & Future Outlook - Visa has observed a 1,200% increase in agentic traffic to merchant websites, which has further quadrupled in the last 5 months, indicating growing consumer interest [67] - Visa anticipates statistically relevant data on agentic commerce within approximately 6 months, which will provide insights into adoption rates and inform product development [53] - Visa believes agentic commerce will be transformative for the payments industry, driven by increased traffic and the conversion of discovery into actual purchases [66][69]