Pinterest CEO says agentic shopping is still a long way out
Pinterest CEO Bill Ready recently shared insights into the future of online shopping and the role of artificial intelligence, stating that fully autonomous “agentic shopping” is still a distant prospect. Speaking during the company’s second-quarter earnings call, Ready described Pinterest as an “AI-enabled shopping assistant,” but cautioned investors against expecting AI agents to handle all shopping autonomously in the near future.
These remarks addressed concerns about how the emerging “agentic web,” where AI agents conduct transactions on behalf of users, might impact platforms like Pinterest. The social bookmarking site positions itself early in the consumer journey, helping users discover ideas that can eventually lead to purchases. Investors worry that advanced AI could bypass such platforms by directing users to personalized recommendations directly, potentially disrupting the traditional search funnel.
“I think this notion of an agent just going and buying all the things for you without you doing anything…”, Ready elaborated on the Q2 earnings call. “I think that’s going to be a very, very long cycle for that to play out, both in terms of how the users think about it, where the users are going to be ready to just let something go run off and do everything for them, save for maybe some very utilitarian journeys,” he explained.
Despite this cautious outlook on full automation, Ready emphasized Pinterest’s strength as an AI-driven shopping guide. He noted that while users don’t always articulate it this way, the platform’s ability to make proactive, personalized recommendations aligns with the function of a skilled personal shopper. “When users say things like ‘Pinterest just gets me,’ it’s because they can open the app and the app is going to make recommendations to them proactively on things that they’re really interested in, that align with their taste and their style, the way that a really great personal shopping assistant would,” Ready said.
Pinterest is navigating what it calls a “Cambrian moment” for AI, implementing various AI-driven experiences. These include sophisticated recommendation and personalization systems, the use of proprietary AI models such as multimodal AI (combining text and images), enhanced visual search capabilities, conversational search, and optimized AI-powered advertising efficiencies.
The company is also actively working to combat issues arising from generative AI. Addressing concerns about an influx of low-quality, AI-generated content, Pinterest recently introduced new tools, including labels for AI-generated images and user controls to filter out such pins. Furthermore, the company acknowledged issues related to mass user bans, which users suspected were caused by faulty AI moderation systems. While Pinterest attributed these bans to an internal error, similar problems have been reported across other social media platforms like Facebook, Instagram, and Tumblr.
Ready also highlighted Pinterest’s appeal to AI talent, stating that potential employees are drawn to the company’s mission of using AI responsibly and for good. “On the mission side, I think we really, really punch above our weight,” he said, referencing efforts in “tuning AI for positivity, creating a more positive alternative to what’s happening in the rest of social media.”
Financially, Pinterest reported strong second-quarter results with revenue reaching $998 million, exceeding expectations. However, adjusted earnings per share of 33 cents fell slightly short of the forecasted 35 cents. The company also noted significant user engagement, with over half of its monthly users belonging to Gen Z, and a notable 95% year-over-year increase in male users.
