Meta’s AI bot won’t revolutionise your finances
It’s not just about trusting Muse or Claude to go on a rewards-maxxing spree. Banks are putting up a fight too.
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US credit cards like Visa and Mastercard are part of a nascent battle between banks and tech companies, says the writer.
PHOTO: REUTERS
Paul J. Davies
US credit cards provide a perfect front line for the nascent battle between banks and artificial intelligence companies: If people are ever going to let software agents loose on their finances, reward programmes are an obvious place to start. I suspect, however, that old habits of caution and inertia will prove hard to overcome.
Some card customers spend hours getting the most out of air miles or cashback incentives, while many others fail to take advantage. AI could make it easier to maximise the benefits of these offers with little effort or risk.