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Meta Chief Data Officer: Agentic Commerce is the Next Business Frontier

Created at 10 Jul · 9:32 PM1 source↑ Market-relevant
IN SHORT

Meta's Chief Data Officer, Schultz, envisions agentic commerce, powered by AI agents and stablecoins, as the future of business. He believes this will revolutionize transactions, moving beyond physical wallets and integrating with messaging platforms like WhatsApp.

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Key Numbers

1 millionweekly active businesses using Meta agents
39.53 billionpredicted market size for conversational commerce by 2034

Who's Involved

Schultz
Meta's Chief Data Officer
Sam Ewen
Host of CoinDesk Spotlight
William Gibson
Science fiction author
Meta
Technology company developing business agents and commerce infrastructure
WeChat
Platform with a successful red envelope payment model
Line
Platform with established commerce infrastructure in Asia
Meta Chief Data Officer: Agentic Commerce is the Next Business Frontier

↳ Why This Matters

Meta's embrace of agentic commerce, stablecoins, and conversational platforms signals a significant shift in how businesses might operate and transact, potentially reshaping digital payments and customer interactions globally. The company's strategic pivot away from proprietary currency towards partnerships reflects evolving regulatory environments and a focus on leveraging existing infrastructure

Key facts

  • Meta's Chief Data Officer, Schultz, believes agentic commerce is the "next tier of business".
  • Meta has over a million weekly active businesses using its agents, primarily on WhatsApp.
  • Schultz predicts a future without physical wallets, with digital payments and stablecoins being central.
  • He cited WeChat and Line as examples of successful large-scale conversational commerce.
  • Meta aims to be the interface layer for commerce, with payment settlement occurring underneath.
  • Schultz stated Meta would utilize decentralized identity systems if they offered scale and reliability.

Meta's Chief Data Officer, Schultz, has articulated a vision for agentic commerce, describing it as an inevitable evolution for businesses and potentially the "next tier of business" for the company. He explained that Meta is actively building business agents, noting that over a million businesses are already using them weekly, a significant increase since the start of the year.

Schultz illustrated the potential of these agents with a simple example: coordinating a child's birthday party, which involves booking times, checking calendars, finding venues, and communicating with other parents' agents, all within a messaging app like WhatsApp. He suggested that if agents can manage low-stakes logistics, they can scale to handle more complex tasks such as supply chain negotiations and financial settlements.

Central to this vision of agentic commerce is the role of stablecoins in the payment layer. Schultz anticipates a future where physical wallets become obsolete, replaced by digital payments. He pointed to the success of WeChat's payment model and Line's commerce infrastructure in Asia as proof that large-scale conversational commerce is viable. He contrasted this with the perceived backwardness of the U.S. reliance on iMessage for such functions.

Schultz acknowledged Meta's past regulatory hurdles with its Libra and Diem projects, stating that the company's current strategy in financial services is focused on partnerships rather than proprietary currency. Meta aims to provide the interface and messaging layer, while payment settlement occurs through third-party stablecoins. This approach is seen as a response to the changed regulatory landscape since Libra, which faced significant scrutiny from U.S. regulators.

When discussing decentralization and proof-of-humanity systems, Schultz expressed that a decentralized verification service would be highly useful for Meta, provided it could be integrated reliably and at scale. He noted that while many smart people have attempted to create such systems, none have yet reached the necessary penetration. He emphasized the need for a verification layer to ensure agents represent the businesses they claim to, a challenge that decentralized identity solutions could potentially solve.

Frequently asked questions

Agentic commerce refers to business transactions facilitated by AI agents that can perform tasks like booking, scheduling, negotiating, and settling payments on behalf of businesses or consumers.

Schultz sees stablecoins as a crucial part of the payment infrastructure for agentic commerce, enabling digital payments in a future without physical wallets.

Following regulatory challenges with Libra and Diem, Meta is now prioritizing partnerships with regulated third-party stablecoins to integrate into its platforms, reflecting a more accommodating regulatory stance.

Meta sees value in decentralized identity systems for verification in agentic commerce, but is waiting for a system that offers the necessary scale and reliability.

What Happens Next

01Meta continues to develop and integrate business agents into its platforms.
02The company will likely pursue partnerships for stablecoin integration.
03Meta may explore decentralized identity solutions if they meet scale and reliability requirements.

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Cadence

How It Developed

Meta's Chief Data Officer, Schultz, discussed agentic commerce as the future of business.
He described Meta's development of business agents, with over a million active weekly users.
Schultz used a child's birthday party coordination as a mundane example of agentic capabilities.
He sees stablecoins as a key component of the future payment layer, envisioning a wallet-less digital payment system.
Schultz contrasted the US reliance on iMessage with the advanced conversational commerce in Asia via platforms like WeChat and Line.
He acknowledged Meta's past regulatory challenges with Libra/Diem, now favoring partnerships for payment settlement.
Schultz expressed interest in decentralized identity systems for verification if they achieve sufficient scale and reliability.
Meta views agentic payments, decentralized identity, and stablecoin rails as current realities rather than future possibilities.

Sources

T1
Meta's Chief Data Officer Says Agentic Commerce is the "Next Tier of Business"CoinDesk

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