AI Needs Full Financial Context

Splitit CEO Nandan Sheth says AI agents require consumer liquidity, existing obligations, and borrowing costs to make accurate pay later recommendations.

“The agent is working for the consumer”

Consumer Benefits from AI Recommendations

Sheth described how his AI suggested a 10% to 15% cheaper watch brand based on his family's preferences.

61% Take AI Recommendations

Joint research found 61% of consumers would take an AI credit or pay later recommendation, while only 2% would let the agent decide.

AI Context Improves Conversion

An AI version showing no prepayment penalty and flexible payment options increased conversion by two to 2.5 times.

Dynamic Financial Relationship

Sheth described a potential dynamic where consumers use AI for lower payments initially but repay balances later with minimal interest.

Data Privacy Concerns

Sheth expressed fear of data breaches and misuse, but suggested localized ai processing to protect sensitive information.

“I have a fear of a breach, and i have a fear of that data being misused”

Groceries as Test Case

Sheth proposed setting a $300 monthly budget for groceries with AI to find the best deals within that limit.

AI for Routine Purchases

Sheth sees lower-value, routine transactions as more suitable for automated payment than high-stakes transactions.