Two potential scenarios for generative AI

If generative AI was only added to existing apps – such as a chatbot taking a food order given verbally instead of the consumer manually typing – it would mostly supplement the internet experience, reducing friction and encouraging more interaction. In this scenario, our analysts don’t see too much disruption for incumbents as generative AI would mostly work alongside existing apps.

But another, more disruptive scenario is also plausible, where the AI agents become the new gatekeepers to the internet. Just as search engines have served as traffic cop to websites and customer acquisition in the PC and mobile eras, chatbots may become the new controllers of where traffic is directed and how companies acquire customers in the future. In this scenario, many services and apps perceived as high quality today may come under attack, as their tasks can be taken on by chatbots.