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The Battle to Let AI Agents Handle Your Online Shopping

2024-12-02

During this holiday season, millions of Americans are set to open their laptops for gift shopping. Tech companies are now vying to hand over the online shopping task to AI agents instead. Perplexity recently launched an AI shopping agent for its US customers, navigating retail websites and even completing checkouts. OpenAI and Google are also reportedly developing their own shopping agents.

Tech Companies' Approaches to Overcoming Retail Barriers

Tech companies are using a combination of new and old techniques to bypass retailers' barriers against unwanted bots. Rabbit released its LAM Playground, allowing an AI agent to navigate websites on behalf of users through a data center computer. Anthropic's computer use agent does the same but is hosted on personal computers. Perplexity is partnering with Stripe to utilize repurposed payment features for AI agents, such as single-use debit cards. This ensures agents can make purchases without accessing users' entire bank accounts.

Google's AI Agent and Privacy Concerns

Google's AI agent reportedly requires access to credit card information, which may raise concerns among consumers. However, many companies like Google, Amazon, Apple, and Shopify already have access to billing info and fill out forms during online shopping. This could give them an advantage in the AI shopping space.

Perplexity's Shopping Agent and Its Challenges

Perplexity's shopping agent takes hours to process purchases and sometimes encounters issues where it can't buy items at all. In testing, when asked to buy toothpaste, it showed several options but had issues with actual purchases. For example, the first purchase was rejected as the item was sold out at Walmart. Even after multiple attempts, it took several hours to complete a purchase. There are also privacy concerns as human checkers are involved, but details about their involvement are lacking.

The Potential Impact of AI Shopping Agents

AI shopping agents have the potential to reshape online shopping. Just like AI chatbots help surface hard-to-find information, these agents can find products or deals that users might not otherwise find. They could save users time when booking flights or finding gifts. However, there is a long way to go before they can buy everything on a holiday wishlist. Retailers and advertisers may be reluctant to let AI agents disrupt their industries as they lose the opportunity for upselling and targeted advertising.

The Future of AI Shopping Agents

In the next year, we can expect better versions of AI shopping agents from Perplexity, OpenAI, and Google. This could be just the beginning of how AI agents reshape the online retail industry and the problems they might encounter. As AI agents get better at solving CAPTCHA and using website interfaces like real people, the shopping experience could improve. But for now, there are still challenges to overcome.

A crypto currency company that had faced severe restrictions has now been granted the go-ahead to resume its operations. This development has sparked significant discussions in the financial and regulatory spheres. The 5th Circuit of Appeals has been actively involved in challenging the Biden administration's regulations related to crypto-currency and terrorist organizations. In a recent ruling, the court overturned an Austin federal judge's decision and declared that the US Treasury Department cannot prevent people from engaging in business with a crypto company known as Tornado Cash. The Treasury Department had previously stated that terrorist states and groups used this site to launder money and finance criminal activities. Two of Tornado Cash's founders were even sent to jail in the Netherlands on money laundering charges. However, users of Tornado Cash argue that the Treasury Department has no right to blacklist the company. The federal appeals court carefully examined the matter and found that the Treasury Department was relying on a 1977 law that was formulated long before the advent of the internet. The court emphasized that until Congress takes appropriate action, it is impossible for this law to be applied to Cryptocurrency. As a result, the ban on Tornado Cash has been lifted. LISTEN on the Audacy App. Tell your Smart Speaker to “PLAY 1080 KRLD”. Sign Up to receive our KRLD Insider Newsletter for more news. Follow us on Facebook | Twitter | Instagram | YouTube.

The Impact of the Court Ruling

This court ruling has far-reaching implications for the crypto currency industry. It showcases the ongoing battle between regulatory authorities and the evolving nature of digital currencies. The reversal of the ban on Tornado Cash indicates a shift in the stance of the judicial system towards a more balanced approach. It raises questions about the effectiveness of existing regulations in addressing the complex issues surrounding crypto-currency. On one hand, the Treasury Department's concerns about money laundering and terrorist financing are valid. On the other hand, the court's decision highlights the need for clear and updated regulations that can adapt to the rapidly changing digital landscape. This ruling serves as a reminder that the regulatory environment for crypto-currency is still in a state of flux and requires continuous evaluation and adjustment.

The Role of the 5th Circuit of Appeals

The 5th Circuit of Appeals has played a crucial role in this case. By overturning the Austin federal judge's decision, they have demonstrated their authority in interpreting and applying laws in the context of crypto-currency. Their actions send a signal that they are willing to carefully examine the validity of regulatory measures and ensure that they are in line with the principles of justice and the law. This case also highlights the importance of having a robust appellate system that can provide a check and balance on the actions of lower courts and regulatory agencies. It shows that even in the face of strong regulatory actions, there is a mechanism in place to review and potentially reverse those decisions. The 5th Circuit's involvement in this matter has set a precedent and will likely have an impact on future cases involving crypto-currency and regulatory disputes.

The Future of Crypto Currency Regulation

The reversal of the Tornado Cash ban raises important questions about the future of crypto currency regulation. It emphasizes the need for a comprehensive and coordinated approach that takes into account the unique characteristics of digital currencies while also addressing the legitimate concerns of regulatory authorities. Congress will need to play a key role in formulating and implementing new regulations that can effectively govern the crypto currency space. This may involve creating specific laws and guidelines that address issues such as anti-money laundering, consumer protection, and market stability. Additionally, regulatory agencies will need to work closely with industry stakeholders to ensure that the implementation of regulations is fair and practical. The future of crypto currency regulation will likely be a complex and evolving process that requires careful consideration of various factors and interests.

Over the past two weeks, an astonishing phenomenon has unfolded in the world of cryptocurrencies. The once soaring giant, Bitcoin, found itself trapped within a trading range between $90,000 and $100,000, after reaching a series of unprecedented highs. Despite still being in close proximity to an over $99,000 peak, a certain degree of optimism regarding its future prospects has begun to wane as market participants await more cues on U.S. policy.

Bitcoin's Recent Performance and Driving Forces

Bitcoin witnessed a modest 0.2% increase, reaching $96,513.2 by 00:49 ET (05:49 GMT). The recent rally in the crypto markets was primarily fueled by optimism surrounding a Donald Trump presidency. It was widely expected that such a presidency would lead to more favorable crypto regulation. However, Bitcoin's rangebound performance over the last two weeks was also influenced by a measure of profit-taking at record highs. Traders are now eagerly seeking more clarity on what specific policies Trump will implement for the crypto industry. After his promise to make the U.S. the crypto capital of the world and even suggesting the idea of a Bitcoin Strategic Reserve, traders are closely monitoring his selections for key positions. His picks for Treasury Secretary and Secretary of Commerce both hold pro-crypto views, and reports indicate that he may choose a pro-crypto candidate to lead the Securities and Exchange Commission.

The Surge of XRP and Its Underlying Speculation

On Monday, XRP experienced a remarkable surge of nearly 33%, reaching $2.46 and overtaking stablecoin Tether to become the third-largest crypto by market capitalization, standing at $140.13 billion, according to data from Coinmarketcap. This significant increase was largely driven by speculation that a forthcoming change in leadership at the SEC would lead the regulator to drop its long-running lawsuit against XRP issuer Ripple. SEC Chair Gary Gensler announced his resignation as Trump takes office in January, and recent reports suggest that former Commissioner Paul Atkins could take his place. Atkins has openly expressed support for digital assets. Traders are also speculating that Trump may shift crypto regulation from the SEC to the Commodity Futures Trading Commission. The CFTC is expected to adopt a less strict stance on regulating the crypto industry.

The Performance of Other Cryptocurrencies

While Bitcoin was rangebound, broader crypto prices also showed mixed trends on Monday. World no.2 crypto Ether fell 0.5% to $3,667.0. Solana and CardanoA experienced losses between 3% and 5%, while Polygon managed to rise 4.3%. Among meme tokens, Dogecoin saw a 2% increase. These diverse performances highlight the volatility and complexity of the crypto market, where various factors and speculations continue to shape the fortunes of different cryptocurrencies.