Chip-enabled digital innovation to set the standard for consumers, merchants

WE are on the cusp of an evolution in commerce.

The use of artificial intelligence and smart technologies is not just restricted to robotics. Just last year, Sweden made the news by having the largest number of cyborgs - people who have embedded microchips the size of rice grains beneath the skin on their hand - in the world. This chip uses RFID to store personal data such as ID and passport details, medical records and credit card details, so users can potentially dispense with physical cards, passcodes and signatures, enabling more efficient and frictionless transactions at checkouts, turnstiles, travel terminals and other electronic systems.

Across Asia, while consumers haven't taken steps to embed chips to streamline their lives, they are increasingly expecting the speed, convenience and ease which human-less transactions offer - from contactless vending machines and self-service food kiosks to automated waiter-less restaurants and hotel front desks manned by robots. For merchants, the growth of unattended retail means being able to deliver faster service and increase sales while reducing the cost of manpower.