Tag Archives: apple

Commercial Models for AI Agents

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Short Blog.. but core to a new series that will attempt to address this strategic question

I find it hard to believe that anyone could keep up with the daily technical updates in AI, the pace of innovation is truly astounding. Given the completion of my recent agentic commerce survey, I thought I’d provide a few of my thoughts on the uncertainties surrounding the economics associated with AI agentic architectures.  While the technology is fascinating, the market operation of AI and Agents is nascent. How is value measured? How will it be monetized?  Who has the pricing power?  How will this impact existing markets, systems and participants? My perspective here is based upon my experience in networked businesses, but even more so in measurement (as CEO/Founder of Commerce Signals).

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Scenario – Agentic Wallets and Federated Data

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Keeping up with the latest in agentic commerce, artificial intelligence (AI), payments, and data privacy is an ongoing challenge. Data and LLM are the key ingredients fueling the rapid advancements in AI and machine learning innovations. As a privacy advocate, I remain deeply concerned about the centralization of data. Once AI models are built to understand “you,” they no longer need continuous access to your data—just ongoing observation (see blogs on Data Centralization and Payments and the Observer Effect).

Do I think wallets will become “Agents”? No, but they will be the most important interface to all Agents, as they broker identity, authentication, authorization, permissions and highly secure data in the handset. My view is that Wallets enable many agents. This view of the the world is called the Agentic Mesh where specialized agents work together to achieve a result.

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Wallets and Networks: The Backbone of Digital Transactions

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Stimulating community discussion is the #1 reason I write this blog. The intersection of payments, banking, and technology is evolving rapidly, and I’m fortunate to engage with great minds like Dave Birch and new friends like Simon Taylor. Dave’s recent post on crypto predictions got me thinking about a topic I keep coming back to—wallets and networks.

As a former banker, I’m naturally more skeptical about FinTechs disrupting the core of banking. Consumer behavior is incredibly difficult to change, and financial services are among the most competitive industries in the world. If there’s one concept where my perspective diverges from many thought leaders, it’s the power of bank networks (read more). These networks are the foundation of financial transactions, and they continue to define the way money moves.

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Apple Opens NFC

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https://www.apple.com/newsroom/2024/08/developers-can-soon-offer-in-app-nfc-transactions-using-the-secure-element

Apple Opens NFC. Just off the phone with Apple. They were nice enough to treat me as a journalist and I was able to ask a few questions. 

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Google Secure Payment Authentication (SPA)

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Read First – Blog on SPA from Checkout.com

Background Reading – June blog eCom politics and Scenarios, and Identity, Authentication and Risk

What’s the big news here? SPA allows Google to stand at par with ApplePay in providing the best-authenticated checkout experience. Google looks to have taken TWO MASSIVE pieces out of the authentication process: 1) 3DS handshake (putitting in Cryptogram and 2) A step up from the Issuer (possibly – a significant portion of this blog). This is a generational improvement and massive simplificaiton of the current 3DS flow.

The mobile platform is key to authentication and Google is the preferred partner of every bank, merchant and network. Their challenge in SPA? Doesn’t seem Checkout.com coordinated with the networks on SPA (ie liability shift OR step up). I think it will get worked out as the quality of this innovation is just fantastic.

As I wrote in June, ApplePay 2.0 plans to cross the chasm from mobile only to desktop (as announced at WWDC). Google is proving that they have the same capability, as Chrome makes up about 10-12% of eCom and over 30% of guest checkout at most retailers; they are positioned well (particularly in Android markets).

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eCom – Politics and Scenarios

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Frank Young – Contributor

What are banks talking about this week? How did Apple’s announcement impact them? While 15bps on 2% of eCom GDV is a nuisance, 15bps on 15% of eComm GDV is an earthquake. 

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Bank Transformation – Actions for Banks to Succeed in the Storm of Disruption

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A Framework for Collaboration – Taking Part in Consumer Journeys

16 Page Blog – 3 Page Exec Summary 

Part 2 of Future of Retail Banking (2023). This blog has been sitting at 60% for 2 months now. Sorry for the delay.  A bull case for V/MA and service expansion.

A storm is brewing that will dwarf the impact the internet (V1/V2) had on established business models. There are multiple transformations occurring simultaneously: AI/ML, Web3, Digital ID, DLT, open mandates, FinTech, Wallets, ….etc. (see Web3 and Small Wins). While large orchestrators and big tech dominate today due to their virtuous cycles, new forces push for the “break up” of Big Tech and centralized data stores to make the internet more democratic and more privacy friendly.

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Short Blog – DOJ/Apple and Visa/MA Settlement

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Apple/DOJ

Updated 3/28 to cover Honor All Wallets

Most of us saw the news on Friday that “The Justice Department, 15 states and the District of Columbia sued Apple on Thursday, alleging the tech giant makes it difficult for competitors to integrate with the iPhone” – WSJ 3/21

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