Early data and widely reported industry observations suggest AI Overviews are reducing click-through on queries where they appear, since many users get their answer without scrolling to a result. The effect appears larger on informational queries than on transactional or brand-name searches, where users still tend to click through to compare or purchase.
The practical response isn't to panic — it's to make sure you're one of the sources feeding the Overview itself, and to lean harder on channels less exposed to this shift, like email, communities, and direct brand search.