Mastercard Joins Payment Giants in AI Shopping Era
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What is the main topic discussed in this episode?
I'm Laura Thoreau with Baird Private Wealth Management. You've been doing all the right things: saving, investing, building toward your goals. Healthcare can be a major expense today, and an even greater one over time. Tools like long-term care insurance or a smart health savings account strategy can help protect what you've worked so hard to build. Learn more at Bairdwealth dot com slash WSJ Guidebook.
What new AI shopping tool is Mastercard launching and how does it work?
Here's your midday brief for Thursday, September seventeenth. I'm Alex Ossola for the Wall Street Journal. MasterCard is following Visa and American Express in rolling out an AI bot that can do your shopping for you.
How is Alchemy enabling virtual cards for AI bots with spending controls?
The journal has learned MasterCard is partnering with the startup Alchemy to roll out agenc shopping for everyday purchases. Alchemy allows users to issue virtual cards to AI bots with restrictions like spending caps and limits on certain product types. Payments executives say that customer trust is one of the biggest barriers to widespread adoption of AI shopping.
Why is customer trust a major barrier to AI‑driven shopping adoption?
General Motors is joining the missile business. Lockheed Martin says the automaker is supplying housing components for its Patriot missiles.
What role is General Motors playing in Lockheed Martin’s Patriot missile production?
The defense contractor didn't disclose details about the size of the order or the scope of future work. The partnership comes as the Pentagon demands Lockheed more than triple its Patriot output to over 2,000 missiles a year by the end of 2030. And U.S.
Why did U.S. housing starts and builder sentiment drop in September?
housing starts fell 2.6% last month, below economist expectations. Residential building permits, another measure of trends in housing construction, were down 2.7%. The National Association of Home Builders reported builder sentiment fell to its lowest level in a year. This suggests further weakness could be ahead in September's housing starts. Heads up and artificial intelligence tool helped us make this episode by creating summaries that were based on WSJ reporting and then reviewed and adapted by an editor. And we have a lot more coverage on the WSJ's What's News. Listen and subscribe wherever you get your podcasts.
This episode is brought to you by Hard Lessons, a podcast from Morgan Stanley. Some investing lessons only become clear after you see how a call plays out. On Hard Lessons, iconic investors sit down with Morgan Stanley leaders to go behind the scenes on the critical moments, both successes and setbacks that shaped who they are today. Watch or listen to Hard Lessons wherever you get your podcasts.
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:00–0:33
2
What new AI shopping tool is Mastercard launching and how does it work?
0:33–0:45
3
How is Alchemy enabling virtual cards for AI bots with spending controls?
0:45–1:06
4
Why is customer trust a major barrier to AI‑driven shopping adoption?
1:06–1:13
5
What role is General Motors playing in Lockheed Martin’s Patriot missile production?
1:13–1:28
6
Why did U.S. housing starts and builder sentiment drop in September?
1:28–2:27