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Personalized AI bots could threaten Amazon.com, Inc.‘s (NASDAQ:AMZN) hold on online shopping and Alphabet Inc.‘s (NASDAQ:GOOG) (NASDAQ:GOOGL) grip on search, investor Gene Munster warned on Wednesday.

Bots Could Reshape Where Shoppers Start

Munster said in a post on X that bots will make it easy to find what you’re looking for, making them “a logical starting point for anything we buy.”

Amazon’s edge rests on helping customers find what they want, delivering fast and earning their trust, Munster said, but the first “will increasingly be under attack.”

For Alphabet, the Deepwater Asset Management’s Managing Partner said the test is whether AI Overview and AI Mode can funnel search traffic into personalized bot usage, adding that the company needs an answer to personalized bots.

I'm also getting more concerned about $AMZN because personalized bots will make it easy to find just what you're looking for, making them a logical starting point for anything we buy.

Amazon wins for three reasons: 1. Find what you want, 2. Speed, 3. Trust. Number 1 will… https://t.co/ch3sJT4ILJ

— Gene Munster (@munster_gene) October 28, 2026

Meta to Add More Retail Partners as Amazon Holds Out

Early data shows the shift is already happening, Munster said, pointing to Meta Platforms Inc. CEO Mark Zuckerberg‘s comment last week that shopping is the most common use of its Muse agent.

Meta is widening its retail reach and Zuckerberg said businesses have been reaching out to integrate with Muse, and Walmart Inc., Sephora and Best Buy Co Inc. are already shopping partners, while Amazon blocked it.

Munster estimates the current global daily bot usage at about 20 million and bets it reaches 2 billion in three years.

Alphabet Bets on Agents as AI Mode Earns Less

Alphabet said agents will add to its search, not undercut it.

Chief Business Officer Philipp Schindler said on the company’s third-quarter earnings call that it views agentic experiences as “clearly additive” and wants to “enhance, not just automate away,” the discovery experience, as it brings agentic features to Search and the Gemini app.

Search growth slowed in the quarter, with Schindler citing currency as the biggest drag and AI Mode’s “lower monetization” as another factor as AI Overviews grew.

Trust May Decide the Winner

Technology analyst Luke Lango told Benzinga earlier this month that the lasting edge belongs to the agent people trust “with their card and their habits,” and said Amazon is most at risk if its wall stays up.

Amazon reports its third-quarter results after the bell on Thursday.

Price Action: On Wednesday, Amazon’s shares closed 0.59% higher at $254.60 and fell 0.33% to $253.75 in extended trading.

Benzinga Edge rankings indicate Amazon’s stock has a Momentum score in the 63rd percentile and a Growth score in the 92nd percentile.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo Courtesy: Walter Cicchetti on Shutterstock.com