Dive Brief:

• American Express advised businesses in a new report this week that two-thirds of U.S. consumers are using artificial intelligence tools to compare prices for products and services, according to a survey the card company fielded to provide guidance to its clients on agentic commerce.
• About six in 10 U.S. consumers said they are likely to use AI agents to receive product and service recommendations in the next 12 months, according to results of the August survey of 2,005 adults by global advisory firm Teneo and released Tuesday.
• Just over half (52%) of the respondents said they would let an AI agent buy household essentials, groceries or low-cost items, but only 15% said they would permit an AI agent to make more expensive purchases, such as electronics and appliances.

Dive Insight:

The New York card giant said it’s convening an advisory council of merchants to help advise sellers, and to incorporate input from businesses across various industries, as AI-enabled commerce progresses, per the press release. 

As more consumers turn to AI for product recommendations and bargain hunting, businesses are bracing for the impact of agentic commerce. 

Alongside the consumer survey, Amex asked 502 business leaders about the rise of agentic AI. Most (83%) of the business leaders see agentic commerce as an opportunity for their companies, but only 41% are experimenting with or integrating the technology into their operations.

That gap might be explained by the speed at which agentic commerce is evolving. Nearly two-thirds (64%) of businesses surveyed said staying abreast of the rapidly evolving technology is a challenge. The majority (86%) of the business respondents expect they will need some support from payment providers and partners to prep their businesses for the agentic AI shift. 

“We believe agentic commerce could be the most significant change in shopping and purchasing behavior since the start of e-commerce,” Amex group president of global merchant and network services, Anna Marrs, said in a press release. “We’re focused on helping businesses understand what’s changing, prepare for what’s next and capture the opportunities ahead.”

In addition to canvassing consumers and companies about their perceptions of agentic AI, American Express is preparing for shopping mishaps that could happen with the technology. Earlier this year, the company said it would protect consumers from accidental AI purchases, subject to its terms and conditions.