Fetch.AI, a Cambridge-based technology startup, and Deutsche Telekom’s T-Labs have announced a memorandum of understanding (MoU), highlighting their continued desire to work together to create and deploy a possible economic Internet of the future.
The agreement will see T-Labs and Fetch.AI research, build and deploy autonomous economic agents on the Fetch.AI test network. They will look at how such agents can be built into wInternet of Things (IoT) devices to provide them with the authority and autonomy to organize themselves free of human intervention.
Joint research and development
T-Labs will continue their work with Fetch.AI removing the roadblocks from a seamless machine-to-machine economy. Their research and development crosses many fields, but focusses in areas such as digital identity, trusted environments for autonomous agents and developing the technologies necessary to seamlessly establish qualifications and capabilities. Additionally, they share a goal to use these kinds of innovations to optimize and grow high-performance networks of such devices and the infrastructure that provides them with data and communications.
T-Labs and Fetch.AI are members of the Trusted IoT Alliance (TIoTA), alongside other organizations such as Bosch and Siemens. This organization was formed to support the creation of an interoperable, scalable and trusted IoT ecosystem and to develop technology that can be deployed to make a positive impact on the world. T-Labs and Fetch.AI believe that autonomous economic agents, and an environment that connects them, are key foundation technologies in achieving this vision. They also recognize the importance of decentralized computing in providing scalable solutions to the network optimization and artificial intelligence that are needed to power such a system.
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. This memorandum of understanding further reinforces our commitment to work closely and combine our expertise and experience to bring this to reality sooner than any of us had previously imagined.”
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. Agent-based systems are a powerful concept for optimizing, and being optimized by, a modern data network and we’re greatly looking forward to continuing to build and deploy things that really make a difference now.”