X, the platform formerly known as Twitter, is stepping into the "Everything App" arena with the planned launch of peer-to-peer payments and deeper integration of artificial intelligence (AI) throughout its platform in 2024.
This ambitious move, announced in a Tuesday blog post, aims to boost user engagement and commercial opportunities by creating a one-stop shop for online interactions. The company envisions users sending money to each other, buying goods and services, and consuming diverse content, all within the X ecosystem.
"X is not just another app — it's becoming the everything app, seamlessly uniting experiences into one interface, for everyone," the blog post declared. This marks a key milestone in Elon Musk's vision for the platform, since his $44 billion acquisition in October 2022.
Musk, known for his innovative ventures like PayPal, which grew from his 1999 company X.com, brings significant experience to the P2P payment arena. The new X payment system could potentially challenge established players like Venmo and Cash App.
Beyond payments, X plans to leverage AI in several ways. One crucial focus is a new feature that exposes users to content outside their usual echo chambers, encouraging them to encounter diverse perspectives. This aligns with Musk's stated goal of promoting more open and balanced discourse on the platform.
Additionally, X will leverage AI to enhance advertising and partner with more brands, further bolstering its revenue streams. These changes come after a transformative 2023 for X, which saw the introduction of video-first citizen journalism, audio and video calling, and the AI search assistant Grok.
With its ambitious "Everything App" vision and a year of transformative changes under its belt, X is poised for a significant evolution in 2024. Its success in integrating P2P payments, AI, and diverse content remains to be seen, but its bold plans are sure to shake up the online landscape.
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