Fintech company Fetch.ai has announced the introduction of its advanced artificial intelligence-based system in January, designed to eliminate various obstacles in the online retail sector. This system will enable AI agents to autonomously complete payments using credit cards, stablecoins, or FET tokens, the company’s proprietary digital cryptocurrency. Fetch.ai is a well-known blockchain and AI platform that develops digital agents to facilitate automated and efficient digital interactions across industries. Its goal is to automate business processes and enhance convenience for both consumers and merchants in online shopping. Current online retail systems face challenges due to payment complexities and lack of interoperability between crypto and traditional payment methods, causing difficulties for users. The new system addresses these issues by allowing AI agents to automatically finalize transactions through multiple payment channels, accelerating the payment process while increasing user ease and confidence. This development is expected to boost the adoption of AI in online retail and expand the use of digital currencies in the market. Experts note that while Fetch.ai’s initiative promises innovation in online retail, its success will depend on how effectively the system integrates with various cryptocurrencies and traditional payment networks. The growing use of this technology could significantly improve the online shopping experience, although it may also introduce security and privacy challenges.
Source: decrypt
