AI search visibility tells marketers whether their brand is being mentioned, but it does not reveal what happens when high-intent buyers move from an AI-generated answer toward comparison and conversion. This article argues that competitor ad activity can provide a valuable second layer of intelligence, revealing shifts in messaging, landing-page structure, offers, and channel strategy. By combining AEO visibility data with competitive ad intelligence, marketers can build a fuller picture of the AI-driven buyer journey—from awareness through conversion.