Commerce in the age of generative AI

Generative AI has garnered extensive attention in recent months for its startling ability to replicate human expression and produce human-sounding content. The latest edition of Mastercard Signals explores this new technology’s implications for the future of commerce — including its potential to strengthen customer engagement, create more efficient business operations, support software development and much more.

“Unlike other technologies that have seen hype cycles,” the report says, “generative AI exhibits clear use cases, has led to the creation of robust solutions, and is developing swiftly. New opportunities will continue to appear. This technology is poised to be transformative across nearly every sector.” That includes large enterprises, small businesses, banking, retail and travel.

Over the next five to seven years, expect widespread integration of generative AI, including specialized solutions for particularly data-sensitive sectors, and for the entities that hold critical data — and excel in securing it — to thrive. We may also see bespoke AI applications that use a single personalized AI bot to orchestrate other bots for AI-to-AI commerce, coordinating purchase, delivery and payment with little or no human intervention. 

We expect generative AI to evolve considerably, but even in its nascent form, this powerful technology promises incredible opportunities when combined with human oversight. Safe usage depends on our collective actions as a global community. By embracing generative AI while addressing its risks and challenges, we can step into the future of commerce and make sure it influences the world for the better.