Deutsche Telekom has announced a partnership with UK-based AI startup Fetch.ai to advance cutting-edge AI and blockchain solutions.
As the Fetch.ai Foundation's first major corporate partner, Deutsche Telekom will work with Bosch and Fetch.ai to support the open AI and blockchain platform for broad adoption. Its subsidiary Deutsche Telekom MMS will also act as a validator for the decentralized Fetch.ai network, helping to ensure the security of transactions on the blockchain.
At the core of Fetch.ai's technology relies on autonomous software agents that are independently powered by AI algorithms to manage resources, execute transactions, and analyze data flows. These agents enable a myriad of real-world applications across sectors such as automotive, supply chain, healthcare, and digital identity.
For example, AI agents can optimize production schedules based on supply chain data or use health records to match patients to clinical trials, and blockchain's tamper-proof capabilities allow for the secure transmission and access of sensitive data.
“The convergence of blockchain, AI and IoT is a harbinger of the digital transformation of entire industries,” said Dirk Röder, Head of the Web3 Infrastructure & Solutions team at Deutsche Telekom. “Autonomous agents will automate industrial services and securely simplify processes thanks to blockchain.”
As more devices, users and services are integrated onto the Fetch.ai blockchain, Deutsche Telekom MMS will ensure network security as a validator. Built on the Cosmos protocol, Fetch.ai operates as a permissionless decentralized network with open-source code accessible globally.
This collaboration demonstrates how blockchain can unlock the full potential of AI by providing trusted and transparent data, and AI can help securely analyze blockchain transactions. Together, these technologies lay the foundation for a decentralized Web3 internet that provides greater privacy and control for users.
“This partnership marks real progress in integrating AI and Web3 innovation into the machine economy,” said Humayun Sheikh, CEO of Fetch.ai.
Deutsche Telekom and Fetch.ai will cooperate at the Bosch Connected Experience, one of Europe's largest AI and IoT hackathons, taking place February 28-29, 2024.
reference: Telecommunications companies plan to spend $20 billion on AI network orchestration by 2028
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