AI Search Disruption Redefines the Gateway to the Internet

Written by Michael White, Global Sector Specialist at Schroders, this report explores how generative AI is transforming online search, reshaping user behavior, and redefining the economics of the open web.

• Google and ChatGPT are turning search gateways into destinations, with “zero-click” results now comprising 27% of all queries.

• AI-driven “agentic commerce” could move transactions inside search platforms, shifting value from third-party websites to AI ecosystems.

• Despite disruption risks, both Google and ChatGPT may expand total market potential, echoing prior digital advertising cycles.

How will AI’s grip on discovery and commerce reshape digital competition? Dive deeper to understand the shifting balance of power in online search.