Fetch.ai embeds itself in I-X community at intro event

Tech startup Fetch.ai, a new member of Imperial’s AI initiative I-X, presented its technology to the community last week in White City.

The event provided the innovative AI academics, researchers, students and businesses with a chance to welcome the company and to discover its AI technology and leadership team.

It also provided an early chance for the company to begin exploring opportunities for collaboration with the I-X community and across Imperial on technical challenges around the further development of its platform, which it says could transform important areas of the economy.

Economy platform

Fetch.ai’s technology allows AI ‘agents’ to communicate with each other and automate tasks on a decentralised network powered by blockchain.

“This truly empowers the gig economy,” Humayun Sheikh CEO, Fetch.ai

A key application of its platform is allowing consumers to instruct agents using voice or text to carry out consumer tasks such as booking holidays flexibly from a range of providers. The platform offers individual suppliers of services such as holiday rentals or taxis, equipped with their own AI agents, a way to connect with consumers at a lower cost than traditional aggregators.

“This truly empowers the gig economy,” said Fetch.ai’s CEO Humayun Sheikh. “Suppliers can carry out their business without paying significant commission rates to the aggregator platforms for having connected them with customers … [Although] we also see a place for aggregators in providing verifications for suppliers, as we know that establishing trust will be absolutely vital for customers.” 

The technology could also be plugged into the Internet of Things to automate tasks with reduced need for human intervention. “Using the sensors and inputs from devices, such as a smart fridge or wearable medical device, would mean that things that feel like chores now would be automated in such a way as to require only simple approvals at most from the customers,” said Edward FitzGerald, Fetch.ai’s Chief Technology Officer 

Collaboration opportunity

Our developing team is working with I-X academics to further develop symbolic verification and planning methods and tools to contribute to this important task Sana Wajid Programme Director, Fetch.ai

The team said that one challenge they are addressing is that of building trust in its platform to perform predictably and reliably. "Through our I-X Business Partner membership, our developing team is working with I-X academics to further develop symbolic verification and planning methods and tools to contribute to this important task," said Sana Wajid, Fetch.ai's Programme Director.

The company is also seeking support from the I-X community on embedding regulatory requirements for agents and vendors into its platform. Automated financial and healthcare transactions using the platform, for example, will need to be compliant and safe for customers.

I-X ecosystem 

Through collaborative thinking, consultancy projects and talent cultivation, the I-X ecosystem creates an entrepreneurial environment to tackle major societal challenges. With Imperial’s long-standing excellence in AI, I-X Business Partner membership offers co-location benefits that enable its members like Fetch.ai to become part of its community, aiming to accelerate immersive collaboration between academia and industry.