When you leave the house, you realize that you have used your last coffee pod. But you don’t have to worry about that. Your assistant, who knows your favorite brand and remembers your history of gastroesophageal reflux, will buy the product at your usual supermarket using that credit card that allows you to accumulate good points in the loyalty program. When you get home from work in the evening, a new package will already be at the front desk. Your personal assistant, in this case, will be an Artificial Intelligence (AI). All the decisions made to restock the pantry with your favorite coffee and ensure that nothing goes wrong the next morning will be made by AI agents – yours, the store’s and the bank’s, who will talk to each other.
The so-called “AI agents” are software systems that use Artificial Intelligence to perform tasks and achieve specific goals, making decisions and acting independently. Very soon, these agents will browse websites, make decisions, make payments and manage various tasks in our daily lives. Millions of people will use AI to find the perfect outfit and research a new place to spend their vacations.
A solution of this type was recently launched by Visa. It is called Intelligent Commerce. “The agent makes our lives much easier when it comes to buying and paying. It is connected to establishments, such as stores, marketplaces and travel agencies, and knows our tastes, habits and ways of being very well, in addition to having our payment credentials stored”, explains Rodrigo Cury, Vice President of Business Development at Visa.
Artificial Intelligence is not exactly new. At Visa itself, it has been used for more than three decades. However, in recent years, it has evolved at an unprecedented speed. “The store will have an agent who is specialized in sales; the buyer, one who is specialized in purchases. And they will negotiate, they will talk to each other”, adds Cury.
Banks and marketplaces
Visa’s Intelligent Commerce is being tested by large banks, mainly. They can solve account problems, make investments, and arrange financing for a property. Marketplaces are also another focus of the solution based on Artificial Intelligence agents.
“There is a very good chance that the logic of how marketplaces work will change completely. Today, consumers enter the marketplace, search for what they want, and the website provides suggestions. Imagine if there was an agent that understood what the customer wanted and needed? The consumer would enter the website and it would immediately provide suggestions. Instead of telling them what they were looking for, the customer would tell them the problem they wanted to solve,” says Visa’s vice president of Business Development.
The end consumer’s Artificial Intelligence agent will be installed on their cell phone or computer, for example. It will be up to the user to determine what information and when it will act. If they wish, basic information about spending and purchases paid for with Visa cards will be shared with the agent so that it can personalize purchase recommendations. Each consumer will set limits and conditions for spending. According to Visa, payment technologies such as tokenization and authentication APIs ensure security and fluidity in transactions.
Image: Envato
*This text was translated by AI
