(MENAFN- Khaleej Times)

The future of shopping arrived in Dubai, as the world's first AI-powered payment was carried out in a live demonstration; a seamless transaction was completed using only a voice-activated AI chatbot, marking a significant leap forward in agentic commerce.

Mastercard, in partnership with Majid Al Futtaim, unveiled the world's first AI-powered payment system, Agent Pay, at the Dubai Future Forum.

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Two tickets to a horror movie were purchased through Majid Al Futtaim's voice assistant without the user needing to navigate to a separate website or manually enter payment details.

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The entire process, from selecting the movie to completing the purchase, was handled within the conversational AI interface, showcasing a future where personal AI agents manage transactions on behalf of consumers.

Omar Al Olama, UAE's Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, witnessed the transaction alongside Michael Miebach, CEO of Mastercard.

The demonstration highlighted how AI agents can simplify consumer experiences by handling complex tasks like finding the best movie seats, optimal showtimes, and closest locations before making a secure payment.

“Imagine all this is done by the chatbot and your card, your shopping preferences are all there and you just check out,” explained Miebach.“That's exactly what we did this morning with Majid Al Futtaim, here in the region. Because it's in Dubai, of course it did work and it worked perfectly.”

The launch underscores Dubai's growing reputation as a global hub for innovation, a place where futuristic ideas are not just discussed but brought to life.

Omar Al Olama praised the UAE's unique“why not” mentality, which encourages piloting and testing new technologies in a controlled environment before a wider rollout.

“In most countries, when you want to launch something new, the response from leadership is 'why?'” Al Olama stated.“Here, it's 'why not?' Let's pilot it, let's see how it works, and then let's go beyond that. It's this switch of mindset that makes the UAE a hub for innovation.”

While the convenience of Agent Pay is undeniable, both Mastercard and government representatives emphasised the critical importance of security and trust.

Miebach addressed concerns about unauthorised purchases and fraudulent activities, explaining that robust safeguards are built into the system.

“The question of safety, security, and trust is hugely important,” Miebach said.“We have to build in the safeguards. We have to build in the controls. That is what our business does for a living.” He stressed the need to strike a balance between fostering innovation and protecting consumers, a balance he believes the UAE is achieving.

Looking ahead, Miebach offered advice for young professionals navigating a world increasingly shaped by artificial intelligence. He urged them to focus on developing uniquely human skills rather than pursuing careers that are likely to be automated.

He advised young people to sharpen their distinct value proposition and focus on fields that require nuanced human interaction and critical thinking.

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