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Benzinga
Benzinga
Business
Kaustubh Bagalkote

Cathie Wood-Led Ark's Prediction: AI Will Turn Digital Wallets Into $9 Trillion E-Commerce Powerhouses — Google, Amazon Dominance Set For Disruption?

Cathie Wood Amazon Google e-commerce Ark Invest Nasdaq

ARK Invest said in November that artificial intelligence-powered digital wallets could revolutionize e-commerce, potentially driving nearly $9 trillion in global online spending by 2030 through the integration of Large Language Models into payment platforms.

What Happened: The Cathie Wood-led firm’s latest research suggests that AI “purchasing agents” embedded in digital wallets like Shopify Inc‘s (NYSE:SHOP) Shop Pay, Cash App owned by Block Inc (NYSE:SQ), and Apple Inc.’s (NASDAQ:AAPL) Apple Pay could transform the traditional one-click checkout into a streamlined one-query purchase experience.

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