Fetch.AI, a Cambridge-based technology startup and Deutsche Telekom’s T-Labs announced a memorandum of understanding (MoU) about their continued desire to work jointly to create and deploy a possible economic Internet of the future.
The agreement implies that T-Labs and Fetch.AI will research, build and deploy autonomous economic agents on the Fetch.AI test network. They will explore how such agents can be built into Internet of Things (IoT) devices to provide them with the authority and autonomy to organize them free of human intervention.
T-Labs will continue their work with Fetch.AI in forming a seamless machine-to-machine economy. Their research and development spans multiple fields but focuses in areas such as digital identity, trusted environments for autonomous agents and developing the technologies necessary to seamlessly establish qualifications and capabilities.
In an email to Cointelegraph, Humayun Sheikh, the CEO of Fetch.AI, noted that the partnership aims to apply machine learning and artificial intelligence integration to smart contracts.
Sheikh added that the upcoming project can enable unique search and discovery tools, and the described solutions will potentially allow AEAs to make themselves visible to each other while actively delivering a much more flexible and direct connectivity.
According to Sheikh, the concrete goals of the cooperation include creating a modular framework that allows T-Labs to deploy services using the Fetch tech and using machine learning in terms of decentralized electric scooter deployment.
T-Labs and Fetch.AI are members of the Trusted IoT Alliance (TIoTA), alongside other organizations such as Bosch and Siemens which aimed to develop technology that can be deployed to make a positive impact on the world.
Toby Simpson, CTO and Co-founder of Fetch.AI, said “It has been a pleasure to work with T-Labs over the last year looking at how we can bring the communications network of the future to life: powering autonomous economic agents (AEAs) to bring solutions to today’s problems that will make a significant difference to all of our everyday lives.”
Senior Vice President and head of T-Labs, John Calian, added “We’ve really enjoyed seeing Fetch.AI’s technology grow and develop and it’s really exciting to be able to actually get things done: put agents into things and see how collective knowledge and self-organizing systems can deliver value where no value existed before.
Powered by innovations such as the smart ledger, Fetch.AI has digital intelligence at its heart: delivering actionable predictions, instant trust information, enabling the construction of powerful collaborative models, improving efficiencies and streamlining processes.
Telekom Innovation Laboratories (T-Labs) is located in Berlin and features amongst top universities, startups, investors, research institutes and corporate innovation hubs. In close cooperation with its academic partners from Germany – Technische Universität Berlin & Berlin University of the Arts and with international academic partners from Ben-Gurion University of the Negev in Be’er Sheva (Israel), Eötvös Loránd University in Budapest (Hungary) and Technische Universität Wien (Austria), T-Labs shapes the future of digital services.