AI: algorithmic recommendations are changing consumer choices and competition among companies

Milan, 28/10/26 – 75% of those who use artificial intelligence when making purchases say it has influenced their decision and, in the financial sector, more than one in two respondents would consider switching banks or insurance providers based on its suggestions. These are the findings of a survey conducted by Excellence Payments, a company within Gruppo Excellence, involving 160 participants and focusing on the growing role of algorithmic recommendations in consumer choices and the implications for companies’ competitive strategies.

Specifically, more than 80% of respondents (132 people) have used AI tools at least once in the past six months to search for information, compare alternatives or choose products and services. Among these, around 45% considered products or brands previously unknown to them, while around 26% chose a product or service different from the one they had initially intended to choose.

Regarding banking and insurance services, more than 60% of the sample say they are willing to rely on AI to compare current accounts, cards and insurance policies. Among those who would consider switching banks or insurance providers, more than three quarters would first want to consult a professional. Around 36% would accept at least one form of payment delegation, while around 8% would allow AI to make payments without requesting confirmation each time, at least under certain circumstances.

The research by Excellence Payments comes amid a gradual transformation of purchasing behaviour and financial infrastructure. In Italy, according to a 2025 survey by Facile.it, 27 million people used online comparison tools over the course of a year. At the same time, according to Worldpay’s Global Payments Report 2026, digital wallets accounted for 56% of global e-commerce value in 2025 and, according to the report’s forecasts, are expected to reach 63% by 2030. The evolution towards Agentic Payments, in which AI systems can select products and services and, within authorised limits, complete transactions, thus opens a new phase of competition: for companies, attracting consumers’ attention will no longer be enough; being identified and recommended by algorithms will become increasingly important.

“Algorithmic recommendations are changing the relationship between companies and consumers across all sectors, including the financial sector, as our research shows,” observes Gianluca Fabrizio Delfino, a professor at the Stockholm School of Economics, who co-authored the research with Francesco Li Vigni, a manager at Excellence Payments. “While companies have so far invested in being recognisable and appealing to people, they will need to make their offering understandable and assessable by AI agents as well. Price and technical features will not be the only decisive factors: service quality, reliability and reputation will need to be translated into accessible and verifiable information, to prevent competition from being reduced to a comparison based exclusively on price.”

“This is a transformation that affects all companies, from industrial and commercial businesses to banking and insurance providers, and requires technological, strategic and organisational change,” emphasises Francesco Li Vigni. “New analytical tools, indicators to measure algorithmic visibility and recommendations, specialist skills and governance models to interpret the results will be needed. Companies will have to rethink their decision-making processes and commercial strategies, updating their skills, adapting their organisational structures and evolving their business models.”