Artificial intelligence wants to do everything for humans, so why not let it buy things, too? That’s why Skyfire Systems developed an AI that lets you do that.
Skyfire partnered with various banking and online payment apps like PayPal so that it can make purchases on your behalf.
READ: AI agent that controls devices is OpenAI’s next project
BusinessWire reports the company acquired $8.5 million in seed round funding. As a result, VentureBeat says Skyfire is on track to become the “Visa for AI.”
How does Skyfire AI work?
Modern artificial intelligence agents can do so many things like write your documents and edit your documents. Despite these advancements, tech companies want to make them do more, such as book flights.
“The problem is that AI agents don’t have identities, they don’t have bank accounts, and they can’t do those things because that identity and ability to have access to financial is basically not possible for them,” Skyfire co-founder and CEO Amir Sarhangi explained.
Craig DeWitt, co-founder and Head of Product at Skyfire, stated in a BusinessWire press release:
“AI can’t truly change the world until it can transact freely. Agents need more than intelligence; they need the autonomy to complete economic tasks without human intervention. That’s the AI economy.”
That is why his tech company facilitates an AI-powered economy with these features:
- Open, Global Payments Protocol: Open and global interoperability for AI, providing access to LLMs, datasets, and API services without the need for subscriptions, credit cards, or onboarding.
- Automated Budgets and Control: User-controlled spending logic lets developers and their customers set specific budgets for single transactions, discrete tasks, or ongoing campaigns, ensuring Agents stay within business parameters.
- AgentID & History: Skyfire provides open identifiers for authentication and authorization and verifies Agents to ensure transactions are trustworthy. The history of transactions for Agents and providers provides an additional verification of good actors.
- Verification Service: Verification of Agent developers and service-providing businesses to allow participants complete visibility and control over allowable network connections.
- Funding on Ramps: Agents can be funded through traditional, banked rails or with stablecoins. All AI transactions are completed instantly.
The global economy’s tech transformation is growing in other countries, such as the Philippines. Learn more about its upcoming central bank digital currency (CBDC) in this other Inquirer Tech article.