By Hannah Lang

(Reuters) -Max Levchin, CEO and co-founder of Affirm, which offers buy now, pay later plans, said artificial intelligence is poised to transform shopping by taking over human tasks and making financial products more transparent.

AI agents will soon be able to instantly weed out products with prohibitively high interest rates or late fees, forcing businesses to rethink fee structures, Levchin said at the Reuters Momentum AI Finance conference in New York on Tuesday.

“I think we’re headed for a future where we have a profound elimination, for lack of a better term, of business models that are designed to prey on stupidity, or lack of attention … because it’s all going to get done by the bots,” he said.

Agentic AI needs minimal human intervention to make decisions and is wi

See Full Page