Agentic AI Unleashes New Era of Machine-to-Machine Transactions
The growth of artificial intelligence (AI) has led to a significant shift in the way businesses and institutions operate, with AI becoming an integral part of decision-making processes. However, the next evolution of AI, known as agentic AI, is expected to revolutionize the way transactions are conducted, making it possible for software to pay software without human intervention.
Agentic AI has the potential to transform consumer engagement, with estimates suggesting that AI agents will account for 15% to 25% of all US e-commerce sales by 2030. Already, chatbots such as ChatGPT are processing billions of prompts daily, with 53 million shopping queries flowing through AI platforms.
To facilitate these machine-to-machine transactions, blockchain and crypto technologies are likely to play a crucial role. Blockchains can hold, send, and receive tokens generated by AI payment agents, which embed transaction rules that set parameters for the transaction, including the merchants that can accept the token and the timeframe for which the token is valid.