Amex plans AI agents, payroll tool by early 2027 using Hyper, Center tech

American Express is responding to a wave of AI investment by payment companies and fintechs. Over the past two years, firms like PayPal, Intuit, and Shopify have backed Meta's Muse AI assistant, which includes features for businesses to set up operations quickly. That creates potential alternatives to traditional financial services firms. Amex's latest move follows its earlier release of the Business Savings Account and incentive marketing for small businesses. The new AI tools are aimed at midsize and large businesses. Internally, Amex says agentic AI has shortened development cycles from quarters to days or weeks. The company's AI pipeline also includes a payroll system scheduled for early 2027. Analysts at William Blair noted that integrating Center and related merchant-focused acquisitions is a key revenue growth lever for Amex in 2026. They also pointed to CEO Steve Squeri's annual letter, which highlighted technology like Amex's closed-loop network and a new cloud-based data analytics platform slated for 2027 as positioning the company well in an AI and agentic commerce world. However, the competitive landscape is intense. Ramp and Extend have gained ground by offering expense management and automation to small businesses. As Tony DeSanctis of Cornerstone Advisors told American Banker, Amex is playing catch-up on features relative to these fintechs, though it has the scale and resources to compete if it executes. The outcome may hinge on how quickly Amex can roll out its AI tools and whether its internal development approach delivers the promised efficiencies.