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Shocking AI Managed Smart Transactions

money Transactions AI

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#1
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Let’s think through some possible ways a disruptive entrepreneur might approach rewriting the rules of transactions.
1. Complex Purchase Scenario
With the combination of AI and nano payments, it may indeed be possible to devise some truly exotic transactions.
 
Let’s suppose you want purchase a new $5,000 bedroom set for your home and the deal you cut is to trade for:
 
One 5-star review on Google (Value $100)
6 posts on Facebook (Value $600)
1 post on LinkedIn (Value $100)
One lawn-scaping service valued at $400 (store owner’s yard)
A mint condition Spiderman #6 comic book valued at $3,600
Two unused $100 gift cards
Since the AI is aware of all the purchaser’s possessions, it recommended this no-cash arrangement as a win-win for both buyer and seller.
 
After reaching the initial agreement, the next step is to iron out what portion of the transaction is subject to sales tax and who is on-the-hook for that piece of the equation.
 
The AI determined $1,200 of the buyer payment is being done in services, so that portion isn’t subject to sale tax. It also determined that $500 of the sales price was allocated to delivery and setup, also not subject to sales tax.
 
That meant the remaining $3,300 is subject to 10% sales tax, or $330. To handle this, the buyer agrees to pay $130 cash and do two Instagram posts, each valued at $100.
 
Both buyer and seller are happy, and the taxing authorities are left with a super complicated money trail that can only be audited with next generation AI auditing software.
 


#2
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Yeah, that sounds pretty cool. But, good thing that an AI is doing this because, my god, that's going to get really complicated, really quickly. If it wanted to suggest posts as a form of imbursement, the intelligence would have to gauge and take into account the respective popularities and follower counts of the buyer's Facebook, Instagram, and Linkedin accounts. It would also have to find a way to determine the buying habits of each of those followers. The buyer's follow count and the buying habits of those followers would drastically shift the value of the posts because those 6 posts are worth nothing if they have no views, and those 50k viewers are worth nothing if they're only on your Facebook page to watch toy unboxings.



#3
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an AI is doing this because, my god, that's going to get really complicated, really quickly.

For humans it is complicated. For supercomputers with AI - a piece of cake.
Amazon, Google, Netflix, Spotify and others already doing it locally. 

As I have repeated many times - money as the only universal measure of value became obsolete. In fact, money and banks are intermediaries.

And what happens to the middle-man in a post-industrial civilization, we already know.







Also tagged with one or more of these keywords: money, Transactions, AI

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