Metadata-Only Tracing: Privacy-First Observability for AI Agents A developer proposes metadata-only tracing as a privacy-first observability approach for AI agents, recording execution structure without storing raw payloads by default. The technique uses operation-specific types and controlled vocabularies to minimize sensitive data exposure while maintaining operational visibility. Agent tracing is useful because it reveals execution structure: which step ran, which tool failed, where a retry occurred, how long a model call took, and how the token budget changed. The easiest implementation is to capture every prompt, argument, result, and response. It is also the easiest way to turn an observability system into a second copy of sensitive application data. Metadata-only tracing takes a different approach. It records the behavior of an agent without storing its raw payloads by default. The result is not zero-risk telemetry, but it is a much smaller and more governable data surface. A useful metadata trace should answer operational questions such as: It should not answer these questions unless a separate capture policy explicitly allows it: That boundary keeps everyday traces useful without making full-fidelity capture the default. Metadata can still be sensitive. A workflow name, fine-grained location, unique identifier, decision label, or rare error category may identify a person or reveal confidential business activity. The relevant distinction is not “payload versus harmless metadata.” It is necessary, classified metadata versus unbounded content . Every field still needs a purpose, an owner, and a retention policy. Avoid free-form metadata bags. A type such as Record