This li’l guy’s passion is fiscal responsibility

“I was supposed to be sent away, but they forgot to come and get me” is the Taylor Swift lyric that six monthly autopays are whisper-singing from your credit card statement. And Meta’s Muse AI agent has won over some users by reducing subscription bloat.

Not-so-niche application

While skeptics fear for early adopters loading their personal information into Muse for help with tasks, the app’s popularity is growing. It’s overtaken ChatGPT as the No. 1 free app on the Apple App Store and Google Play charts for US downloads.

Among other functions, Muse can successfully identify and cancel unwanted recurring charges for everything from fitness streamers to electrolyte supplements. And a lot of people have them:

• Subscription spending rose 7.7% year-over-year in July, faster than overall credit card spending, according to payment data from Bank of America.
• Research cited by CNBC showed that many people won’t cancel unwanted recurring subscriptions unless they are forced to.

Zoom out: Investors are eyeing companies that will be negatively impacted by these developments. A Goldman Sachs note quoted by Bloomberg said that as Muse improves “at price comparison, trip booking, and dealing with customer service…industries that rely on recurring bills, negotiable pricing, and add-ons could come under pressure.”—HVL