Do retailers keep control, or do the general AI agents take the lead?

To be frank, this is one of the major unanswered questions within this market, and y- you know, we can speculate, but we're not gonna know for a few years.

So let's go through the potential paths here.

I think the first goes within the customer journey, where does the customer wanna check out? Who has the best experience as you go through that journey? And early on, it's retailers.

They have your purchase history.

They have your payment information.

They have your shipping.

Uh, how real do you think the risk is that external agents divert traffic and advertising dollars away from e-commerce platforms?

Wh- why do you think that is? And sort of walk us through what has to happen in your mind for people to really pivot and start using agents to shop for their weekly grocery basket.

I think one of the key things about the grocery category is it's a very high-friction category online.

You have to go through and select each individual ingredient you want in the order, ensure that you have the right brand, the right number of units, and ensure that the substitutions, when somebody actually gets to the store, are correct.

And so for a user, it just takes a substantial amount of time to build a basket for online grocery.

We think agentic can change that by becoming your personal digital shopper.

You can say something as simple as, "I want to make steak tacos for dinner," and it can add all of the ingredients you want to your order, go from the grocery store you like, and hey, it'll know your preferences.

It'll know you already like a certain brand of tortillas, and it'll add those to the cart.

Maybe sort of walk us through what your big takeaways were from the Five I's framework and what it means that retailers need to be mindful of throughout this agentic transition.