The autonomy economy: AI in payments

Artificial intelligence is dominating headlines with extravagant capital raising exercises and doom-laden proclamations from experts. Much about the technology’s future remains mysterious, but it is already clear that the payments world is likely to be dramatically reshaped by the arrival of agents.

In many jurisdictions, agents are already assisting with commerce. Users ask for recommendations and AI sources products, compares offers and advises on the best purchase to make.

The next step – enabling agents to complete purchases autonomously, without immediate supervision from the authorising agents – is a natural evolution but one that presents considerable technical, regulatory and commercial challenges.

The latest edition of OMFIF’s Digital Monetary Institute Journal features insights from leading experts across the financial and technology sectors, and explores what agentic payments could look like and the changes necessary to make them a reality.

While many elements of the emerging ecosystem are in place and present novel capabilities, ‘there are still critical pieces missing’.

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