AI Shopping Agents Raise New Banking and Cybersecurity Concerns
Banks Warn of Fraud, Data Exposure and Payment Risks as AI Takes a Bigger Role in Online Purchases New Delhi, September 23. (SDNA) — Artificial intelligence is rapidly moving beyond product searches and recommendations to playing a more active role in online shopping. AI-powered shopping agents can increasingly understand a consumer’s requirements, search for products, compare alternatives and, in some cases, assist in completing purchases. The growing use of such agentic commerce, however, is raising fresh concerns among major banks over financial fraud, misuse of personal information and uncertainty over who would be responsible if an AI-driven transaction goes wrong. According to a Reuters report, banks including NatWest, Bank of America, ING, Capital One, Commonwealth Bank of ...