Artificial Intelligence and the Transformation of the Payments World
The OMFIF Digital Monetary Institute Journal examined the autonomous payment capabilities of artificial intelligence agents, legal responsibilities, and potential risks.
As the capacity of artificial intelligence agents to make unsupervised purchases prepares to radically change the payments world, experts are discussing legal liability, stablecoins, and emerging risks.
The Rise of Artificial Intelligence Agents
While artificial intelligence technologies help users find products and compare offers, these agents are expected to transition to a phase of completing purchase transactions without direct supervision.
Stablecoins and Payment Costs
It is stated that due to low transaction costs, stablecoins could constitute a significant vector for agent-based payments, and parts of the economy are ready for this process.
Legal Liability and Trust Ecology
The adoption of agent-based payments depends on the implementation of strong controls, legal certainty, and the establishment of a trust ecology during the process of delegating financial decision-making responsibility to artificial intelligence.
Audit Challenges and Markets
While the extreme speed at which agents execute transactions creates major challenges for regulatory bodies, similar models reacting instantly to the same information can trigger flash crash risks.
Future Perspectives and Policies
While a model where liquidity is managed in real-time through the combination of artificial intelligence and blockchain is envisioned, it is stated that policymakers must focus on preserving market conditions.