In today’s ever-changing technological landscape, the amount of data we are generating is ever-increasing. The quest to manage, store and efficiently use this data is a crucial component of enterprise strategy.
New Technological Horizons
Fields like big data, machine learning (ML), and artificial intelligence (AI) are finding more use cases by the day – the primary goal is to enhance efficiency and reduce human effort. As the name suggests, AI is intelligence demonstrated by machines. The field of study involves programming machines to mimic cognitive functions, like problem-solving and learning.
AI applications include understanding human speech, advanced web search engines, self-driving cars, recommendation systems, gaming, etc. Blockchain technology is often heralded as the present and future of technology and rightly so. Given blockchain technology’s various applications, the introduction of AI is a logical step.
Integrating AI and ML into blockchain technology and vice versa can boost AI’s potential and enhance blockchain technology’s underlying architecture and overall efficiency – cue smart computing power. Blockchain can record all decision-making data and variables and make AI more understandable.
What is Fetch.ai?
Fetch.ai is developing a decentralized, open-source, and tokenized ML network to enable intelligent infrastructure built around a decentralized digital economy. The technology has the potential to improve the efficiency of existing systems through AI, ML, and intelligent data sharing. The Fetch.ai ecosystem is powered by the FET token – the FET token is available for trading on Coinbase Pro.
The project’s primary technical focuses are the decentralization of federated learning algorithms, deployment of autonomous software agent populations to fulfill economic goals, and cryptography.
One of Fetch’s applications is automated decentralized finance (DeFi) management – you can automatically withdraw liquidity from any PancakeSwap V2 pool or Uniswap V2 based on a predefined condition. This enables effective protection from volatility.
Another application is the Decentralized Delivery Network (DDN). The DDN provides infrastructure for delivery networks, supply chains, autonomous vehicles, and subways/trains to deliver/transport packages, food, and people on a global scale, simultaneously. The project is incentivized with FET rewards.
Other applications include smart homes, autonomous AI travel agents, smart parking, traffic signs agents, thermometer agents, etc. It is clear to see that Fetch.ai is a world-changing project with immense potential – the network will effectively wed blockchain technology and AI.