Elon Musk's X Plans To Introduce P2P Payments In 2024 Along With AI-Powered Experiences And More
X is not just another app – it's becoming the everything app, seamlessly uniting experiences into one interface, for everyone, said the company.
Elon Musk and his team at the social networking platform X, earlier Twitter, plan to optimise the use of artificial intelligence to enhance advertising and user experience.
In a blog post on January 9, the company said 2023 was "foundational" for X, and 2024 will be "transformational".
The post mentioned the company would be launching peer-to-peer payments.
“We will launch peer-to-peer payments, unlocking more user utility and new opportunities for commerce, and showcasing the power of living more of your life in one place,” the post stated.
The post, however, did not specify when the peer-to-peer payment service would be available or how it would work.
Musk’s social media company would also consider consumer-facing features such as ‘See Similar Posts’ and ‘See Dissimilar Posts', which it claimed would provide content that aligned with user interests or challenged their perspectives based on their recent activity.
“We laid the groundwork for the global town square, and in 2024, that vision will come alive. On the one-year anniversary of acquisition, we shared our progress and the unstoppable momentum we've gained,” said the company in its post.
X is not just another app – it's becoming the everything app, seamlessly uniting experiences into one interface, for everyone, said the company.
The platform will concentrate more on its business partners in this new year. Musk has shared a detailed roadmap with time-frames to launch its new products. In the last few months, the post stated that the platform was in the process of acquiring mandatory licenses to manage payment processing.
In December, the social networking platform acquired the license for payment processing in 12 states, which has now been revised to 14.
As per Musk’s prediction, X users would soon be able to transfer and receive money across platforms that have authenticated bank accounts. He tapped into the idea of profitable money market accounts that encourage users to withhold their cash on X.
The company also committed to continued investment in creators, content partnerships, original content, full-funnel ads and brand safety.
The latter has been a source of concern for advertisers on the social media platform, who have found that despite X’s measures, their ads were placed next to toxic content or hate speech, leading many to withdraw.
The company suggested AI would "increasingly power the X user". This follows the launch of the Grok chatbot - a Musk-launched ChatGPT competitor. However, the post did not elaborate much on the chatbot.
In an update on the company's milestones over the past year, the post said its progress included the launch of long-form video, audio and video calling, X Hiring (job search), the expansion of Communities, Grok, creator tools and more.
