At this year's Davos it was impossible to escape AI. Central to these discussions was the shift toward "agentic AI", which has real implications for the world of fintech.
The article by David Birch on Forbes discusses the advent of "A-commerce," or agentic commerce, where AI agents perform tasks on behalf of consumers, heralding a shift towards a "do-it-for-me" economy. Birch explores how AI agents, powered by advancements in artificial intelligence, could soon manage everyday tasks like shopping, booking travel, or even handling financial transactions autonomously. This evolution is expected to redefine consumer behavior, moving from traditional e-commerce to a more personalized, efficient, and seamless interaction where AI not only suggests but also executes decisions. The piece highlights potential benefits like increased convenience and time savings, but also raises concerns about privacy, security, and the potential for AI to make decisions that might not align perfectly with human preferences or ethics. Birch suggests that while this transformation promises significant economic and lifestyle changes, it also necessitates new frameworks for trust, regulation, and consumer protection in an AI-driven marketplace.