JPMorgan is restricting external AI agents from directly accessing retail banking accounts, while Amazon has blocked Meta’s Muse from shopping on its platform. Both companies cite security and customer-protection concerns, but I think there is a larger strategic issue here.

AI agents could change how consumers shop and manage money. Instead of visiting multiple websites, comparing products manually or searching for better savings rates, users could delegate those tasks to an agent that evaluates alternatives and acts on their instructions. That could threaten businesses whose competitive advantage depends partly on controlling customer attention, product discovery or the switching process. Amazon could lose some influence over shopping searches and advertising, while banks could face more pressure if customers can easily compare rates and move money between providers.

Still, the security concerns are real.…