Industry Grapples with Lack of Standards as AI Shopping Agents Emerge

AI shopping agents are on the horizon, but the industry is not fully prepared for their integration, according to a panel discussion at the Fortune Brainstorm Tech conference. A consensus among experts points to a critical absence of standards around fraud prevention, security, and the handling of returns as primary obstacles.

Matt Maher, founder and CEO of M7 Innovations, stated that despite interest in AI models for product discovery, completing purchases via AI agents is difficult due to security protocols, a lack of agentic commerce standards, and existing retailer policies that often block third-party agents.

Melissa Bridgeford, cofounder and CEO of Wizard Commerce, noted that even for product discovery, current AI models like OpenAI’s ChatGPT often fall short. She observed that ChatGPT provides specific product recommendations in only 9% of inquiries. Bridgeford also highlighted OpenAI's previous attempt to build its chatbot into a commerce platform with an "Instant Checkout" feature, which was later abandoned, leading major retailers like Walmart to withdraw from partnerships.

Liability remains a significant unsolved challenge, particularly when an AI agent makes an unintended purchase or in cases of fraud. Courtney Robinson, head of policy and communications at Akoya, emphasized that without established standards, liability is currently negotiated on a company-by-company basis. Norman Menz, CEO of Flare, warned that AI agents could exponentially magnify existing online fraud problems, creating new vulnerabilities from hijacked agents to those operated with stolen identities.

Adam Winnick, cofounder and CEO of Finality, suggested the need for new open-source standards and systems for monitoring and identity verification of AI agents, ensuring they are legitimately authorized for transactions. He mentioned blockchain technology as a potential component for such a system.

Panelists stressed that while consumers are eager to use AI shopping agents, the development of necessary industry standards typically spans years, creating a timing mismatch between market demand and regulatory readiness. According to Fortune, this gap presents a significant challenge for the seamless rollout of agentic commerce.