Fetch.ai (FET)

Overview Fetch.ai (FET)

Fetch.ai is a technology platform built for the AI-driven economy, offering a set of tools that enable users to create, deploy, and monetize AI services. The platform simplifies the process of making legacy systems AI-ready without the need to modify existing APIs. Fetch.ai also fosters the discovery and interaction of services within its AI agent network, allowing businesses and developers to seamlessly integrate multiple services and access them through a single prompt. By connecting various systems and facilitating autonomous agent collaboration, Fetch.ai enables the creation of innovative services and solutions across industries.

History

Fetch.ai is an artificial intelligence lab that launched the Fetch.AI platform in 2017. After an Initial Exchange Offering (IEO) on Binance in March 2019, the Fetch.AI mainnet went live in January 2020. Headquartered in Cambridge, this AI-focused lab is pioneering the integration of AI with blockchain technology.

Fetch.AI is an open-source, decentralized machine learning platform built on a distributed ledger. It provides users with access to AI in the form of secure datasets, enabling enhanced decision-making and automation.

Within the Fetch.AI network, a set of autonomous software agents represents their owners and carries out tasks on their behalf. These agents work collaboratively across multiple ecosystems, optimizing services for both suppliers and consumers. The Fetch.AI framework is designed to support the integration of billions of IoT devices, ensuring smooth, automated communication while maintaining high security. The network’s agents are capable of performing a variety of functions, including searching, negotiating, trading knowledge, and sharing predictions and value.

Fetch.ai is focusing on several early-use cases to demonstrate the power and potential of its platform, including:

• Optimizing trading for users in the financial services sector
• Reconfiguring public transport networks for better efficiency and service
• Supporting smart cities in adapting to and responding to citizen behavior
• Disintermediating the gig economy, removing the need for middlemen
• Connecting energy networks to smart grids for more efficient energy distribution

By decentralizing access to data, Fetch.ai aims to break the power held by traditional data monopolies. The Fetch.ai framework leverages autonomous agents to organize data in meaningful ways, such as semantically, geographically, or based on economic features. Its permissionless network allows anyone to share or exchange information using these agents, enabling a more open, efficient, and secure flow of data.