BofA: Agentic AI Won't Displace Swiggy, Zomato, MakeMyTrip Anytime Soon
Bank of America argues Indian consumer apps are insulated from agentic AI disruption due to a low-trust market and consumer rejection of the super-app model. Note comes as OpenAI partners with Eternal, Nykaa, MakeMyTrip and Ixigo, positioning ChatGPT as an action engine across commerce verticals.
BofA report says agentic AI unlikely to replace Indian consumer apps like Swiggy, Zomato, MakeMyTrip soon due to low-trust market and rejection of super-app model. OpenAI has partnered with Eternal, Nykaa, MakeMyTrip, Ixigo as ChatGPT becomes action engine.
Why this matters
BofA's defensibility call lands as Swiggy expands beyond delivery, opening MF investing to 610,000 riders with Zerodha and scaling Dineout against Eternal's District in the dining-out battle.
Omni-channel signals steady at 440 over the last 90 days, reflecting sustained platform expansion activity.