The Fetch.ai Foundation, a non-profit organization dedicated to advancing artificial intelligence (AI) and Web3 technologies, has announced that peaq, a blockchain platform for real-world applications, has joined as its latest member. peaq will work alongside Fetch.ai, an open platform for the new AI economy, and Bosch, a leading global IoT manufacturer, to promote the use of AI and decentralization in the Economy of Things.
TLDR
- peaq joins the Fetch.ai Foundation alongside Fetch.ai and Bosch to advance AI and decentralization in the Economy of Things
- peaq’s layer-1 blockchain will provide the backbone for AI-driven automation in real-world applications and DePINs
- The collaboration unlocks new possibilities for intelligent dApps and AI use cases in various industries
- Builders and businesses can implement AI Agents in their dApps and DePINs, while device owners can optimize rewards using AI Agents
- The partnership builds on prior collaborations between peaq, Fetch.ai, and Bosch, such as the Gaia-X moveID project
The collaboration between these three entities is expected to revolutionize the way connected devices create value autonomously.
By leveraging Fetch.ai’s AI Agents and peaq’s layer-1 blockchain, which is primed for real-world projects, the Foundation aims to boost AI-driven automation in the Economy of Things.
This new economic paradigm will enable a wide range of intelligent decentralized applications (dApps) and AI use cases in various industries, such as smart mobility, energy management, Web access, and data crowdsourcing.
The partnership is set to benefit builders, developers, businesses, and everyday people alike. Builders and businesses will have the opportunity to implement AI Agents as part of their real-world dApps and decentralized physical infrastructure networks (DePINs).
This will enable innovative use cases, such as smart power grids that self-manage their workload or smart vehicle charging marketplaces that provide optimal pricing.
Meanwhile, device owners will be able to utilize AI Agents to have their devices join multiple DePINs and switch between them in a way that optimizes their rewards on the go.
The collaboration between Fetch.ai, Bosch, and peaq has already yielded successful results in the past. The parties have previously worked together on the Gaia-X moveID project, where they transformed a Bosch XDK device into a smart sensor hub capable of connecting to multiple DePINs and maximizing the owner’s rewards using a Fetch.ai AI Agent.
This project serves as a foundation for further joint initiatives between the three organizations.
Humayun Sheikh, Founder of the Fetch.ai Foundation and Fetch.ai, expressed his delight in welcoming peaq to the Foundation, stating that the partnership demonstrates their commitment to leveraging AI and blockchain for individual and business empowerment.
Peter Busch, Global Product Owner for Distributed Ledger Technologies at Robert Bosch GmbH and Chair of the Fetch.ai Foundation, also welcomed the development, noting that peaq has already proven its capacity as an important building block for the Economy of Things Ecosystem.
Leonard Dorlöchter, Co-Founder of peaq, expressed excitement about the collaboration, stating that joining forces with Fetch.ai and Bosch is a significant step forward in their journey to revolutionize real-world applications with blockchain technology.
He added that peaq looks forward to contributing their expertise and collaborating on groundbreaking projects that will shape the future of intelligent automation in the Economy of Things.
The Fetch.ai Foundation remains committed to advancing state-of-the-art AI and Web3 technologies on the Fetch.ai network, with an emphasis on creating an open platform designed for a broad user base.
The partnership with peaq is a strategic move to further these goals and promote the development of a decentralized and user-centric environment.
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