Amex advises businesses on AI

Artificial intelligence is changing how your customers find and buy products. American Express is now actively advising merchants on how to adapt to this shift. The rise of AI-powered comparison shopping means customers are no longer just looking at your website; they are using AI tools to find the best deals, financing terms, and product availability across the entire web simultaneously. For retailers, this means your financing offers must be transparent and competitive. If an AI tool can instantly compare your monthly payment options against a competitor's, your 'buy now, pay later' or traditional credit terms need to be front and center. Amex suggests that businesses focus on data hygiene to ensure these AI bots accurately scrape your financing promotions. This trend isn't just about search engines. It is about the checkout experience. Merchants who integrate AI to personalize financing offers at the point of sale will likely see higher conversion rates. As these tools become standard, the advantage goes to operators who use AI to predict which customers need specific lending products before the customer even asks.

Source: Payments Dive

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