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Emerging Technology Trends for 2024: Mastercard’s Report Unveils the Impact of Generative AI on Commerce

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Mastercard's “Emerging Technology Trends for 2024” report offers an insightful glimpse into the future of commerce, with a special focus on the transformative impact of generative AI in the retail and travel sectors. This comprehensive study reveals how the convergence of artificial intelligence, computational power, and data technology is not just revolutionizing shopping experiences but is also poised to reshape the travel industry.

A New Era in Retail with AI-Powered Shopping Assistants

In the retail domain, generative AI is significantly enhancing the shopping experience. Mastercard's report highlights the advent of AI-driven personal shopping assistants, exemplified by Shopping Muse from Dynamic Yield, a Mastercard company. These assistants, equipped with advanced conversational abilities and personalization techniques, are streamlining the journey from product discovery to purchase.

Big players like Shopify, Instacart, Mercari, Carrefour, and Walmart are experimenting with generative AI chatbots, which are expected to become widely available in the coming year. These AI assistants promise a more personalized, efficient, and user-friendly shopping experience, with capabilities far beyond traditional digital assistance.

Transforming the Travel Industry with Generative AI

The travel sector is also on the cusp of a major overhaul thanks to generative AI. The report delves into how this technology is reviving the concept of travel agents in a virtual format. For instance, a business traveler could use a bot on platforms like TripAdvisor or Kayak to arrange a trip. The generative AI then takes over, seamlessly integrating various elements of the trip – flights, lodging, dining, sightseeing – across different time zones and currencies, to create a comprehensive itinerary in minutes instead of hours.

Wearable Technology and AI Pins: The Next Frontier

The report also touches on the emergence of wearable technology that incorporates generative AI. For example, the latest iteration of the Meta Ray-Ban smart glasses released in late 2023 represents this trend. Moreover, innovative interfaces like the AI Pin, developed by startup Humane, are highlighted. This wearable device, which can be affixed to clothing, offers voice access to ChatGPT and functions such as instant translation and nutritional information scanning, further integrating AI into everyday life.

Revolutionizing Software Engineering with Generative AI

One of the standout tools mentioned in the report is GitHub Copilot. This AI-powered tool represents just the tip of the iceberg in terms of how generative AI is transforming the software development process. GitHub Copilot assists developers by providing suggestions for code completion, effectively streamlining the coding process. This tool one of many AI code generators is particularly adept at understanding natural language requests, allowing developers to describe their coding needs in simple terms and letting the AI generate the required code in the desired programming language.

Boosting Productivity and Efficiency

The report anticipates a substantial increase in engineering productivity thanks to the integration of generative AI. By automating a range of tasks, from supporting and maintaining legacy code to assisting in the creation of user interface and user experience (UI/UX) designs, generative AI is set to significantly reduce the time and effort traditionally required in software development. This automation extends to more complex tasks as well, such as debugging, testing, and even in the conceptual stages of software design.

Generative AI and Legacy Code

One of the most time-consuming aspects of software maintenance is dealing with legacy code. Generative AI is poised to automate the handling of such code, making it easier for developers to update and improve older systems. This capability is particularly crucial for industries that rely on legacy systems but need to keep pace with modern technological advancements.

Enhancing Creative Tasks

Beyond the more routine tasks, generative AI is also enhancing the more creative aspects of software development. In UI/UX design, for example, AI can help generate layouts and design elements based on specified parameters, freeing designers to focus on more innovative aspects of their work. This blend of AI assistance in both the technical and creative processes represents a significant shift in how software development projects are approached and executed.

The Future of Software Development with Generative AI

Looking ahead, the report suggests that the role of generative AI in software development is only set to grow. Its ability to understand and process natural language inputs and its versatility in handling a wide range of tasks will make it an indispensable tool for developers. This will not only speed up the development process but also open up new possibilities for innovation in software design and functionality.


Emerging Technology Trends for 2024” by Mastercard underscores the critical role of generative AI in shaping the future of commerce, travel, and technology. As we advance, the integration of this AI into various sectors promises not only enhanced efficiency and personalization but also poses challenges that need responsible management, especially concerning privacy and ethical use. This report serves as a crucial guide for businesses and consumers to navigate and harness the potential of generative AI in the evolving digital landscape.

A founding partner of unite.AI & a member of the Forbes Technology Council, Antoine is a futurist who is passionate about the future of AI & robotics.

He is also the Founder of, a website that focuses on investing in disruptive technology.