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It’s critical to regulate AI within the multi-trillion-dollar API economy | TechCrunch

Dec 22, 2023 - techcrunch.com
Alex Akimov, former head of API at Adyen, is leveraging his tech leadership experience to revolutionize embedded finance at Monite by building top-tier APIs for seamless client integrations. APIs, which power the modern internet, are projected to have a total market value of $14.2 trillion by 2027 due to their increasing relevance in daily life. However, the rise of AI has complicated the regulation of APIs, with organizations like IEEE and W3C setting technical standards, and requirements like ISO27001 and GDPR covering security and data privacy.

AI integration has significantly changed the API landscape, with generative AI and large language models (LLMs) altering the risk landscape. AI companies are utilizing API technologies to distribute their products widely, with AI co-creation becoming the norm in software development, particularly in API creation and deployment. Tools like GitHub Copilot and ChatGPT can write code to integrate with any API, and companies like Superface and Blobr are innovating in API integration, using AI to connect to any API in a chatbot-like manner. However, the creativity of generative AI, especially in the case of artificial general intelligence (AGI), poses control challenges.

Key takeaways:

  • Alex Akimov, former head of API at Adyen, is now leading the revolution in embedded finance at Monite by building top-notch APIs for easy client integrations.
  • The 'API economy' is expected to reach a total market value of $14.2 trillion by 2027, due to the increasing importance of APIs in our daily lives.
  • AI integration has significantly changed the API landscape, with generative AI and large language models (LLMs) altering the risk landscape.
  • Companies like Superface and Blobr are innovating in the field of API integration, using AI to connect to any API in a chatbot-like manner.
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