Visa is collaborating with leading AI developers to create artificial intelligence 'agents' capable of handling shopping tasks by utilizing users' credit cards, aiming to transform mundane purchasing processes. These AI agents, considered successors to current chatbot technologies, are being designed to autonomously purchase items like groceries and airline tickets within a set budget and according to user preferences. Visa is partnering with companies like Anthropic, Microsoft, and OpenAI to address the technical challenges of integrating AI with their payment systems, intending to provide these agents with seamless and secure access to funds. The initiative is expected to provide emerging AI companies a competitive edge against tech giants such as Amazon and Google, who are also developing AI commerce solutions. Visa emphasizes that these AI agents will not fully replace the shopping experience but will offer assistance in transactions, ensuring user control over spending and decision-making through clear guidelines and spending limits.

Visa aims to revolutionize shopping by employing AI 'agents' to handle purchasing tasks, allowing users to set budgets and preferences for these agents to autonomously buy items like groceries or travel tickets.

Collaborating with AI developers such as Anthropic, Microsoft, OpenAI, and others, Visa seeks to overcome technical challenges to seamlessly integrate AI agents with its payment network, ensuring secure and trusted transactions.

The initiative is positioned to give emerging AI companies a competitive advantage over established technology firms like Amazon and Google, which are also exploring AI-driven commerce solutions.

Visa's approach involves ensuring that AI agents act within set spending limits and guidelines provided by users, maintaining user control over transactions and mitigating concerns about credit card debt.

The project builds on Visa's recent changes to digital payment processes in the U.S., aiming to transition from physical credit cards to digital credentials, with AI agents playing a supportive role in this evolution.

AI agents are expected to assist with mundane shopping tasks while still allowing consumers to enjoy the experiential aspect of shopping for luxury goods, where the AI remains in the background.

The collaboration with AI developers includes exploring the use of transaction history data, with user consent, to enhance AI recommendations, potentially streamlining and personalizing the shopping experience.