Commodity exchange & decentralized finance
The decentralized exchange is an innovative platform that will allow increased liquidity in trading of steel, base metals and other commodities.
Fetch.ai is helping the market participants overcome existing barriers to entry through technology. It will enable and simplify digitalized trading of these materials through the use of tokens, allowing market players to gain access to exciting new risk management tools, while maintaining market efficiency and security.
The decentralized platform will unlock new funding models for the supply chain participants by allowing them to use their materials as a collateral for tokens, which will enable full realization of the value of the underlying commodity they are holding.
It will also allow spread hedging between raw materials and finished products in a simplified fashion which will help market players to better hedge the portion of the supply chain which is more relevant to them.
Transport & mobility
Today’s transport systems are largely self-service where individuals have to do a lot of work just to get from A to B. Whilst we all have an expanding selection of tools in our pockets, they are requiring more and more of our time to use them.
In the Fetch.ai world, Autonomous Economic Agents do the work on your behalf, operating on your preferences and learning as they go, adjusting in real-time to any unforeseen consequences.
An openly accessible, real-time infrastructure for sharing insights about the state of the transportation would create wealth, increase productivity and drive economic growth by allowing the sale and use of knowledge about the demand for, and supply of, mobility.
Fetch.ai's decentralized network of autonomous agents can represent all of the trains and stations in the UK, enabling it to indicate the live position of all the trains in real time.
Agents can find, negotiate and transact with one another to autonomously provide you with instant, personalized updates, ensuring that your journey is seamless - even when unforeseen circumstances occur.
Smart parking & congestion solution
In a smart city, rather than driving into a parking lot hoping to find a space, an autonomous agent within your car will search and communicate with parking agents to find the nearest available space to your destination, book it for you before directing you to it. When you come back to your car and drive off, your car agent checks out of the parking lot, calculates the payment and makes it for you, removing the hassle of parking tickets.
This simple act of finding you a parking space not only ensures you make your appointment on time, it also will transform congestion within cities. In 2018 in the US, $87 billion was lost to the economy due to traffic jams with 30% of cars in the most congested cities looking for parking spaces.
Smart eMobility & Electric Vehicle Infrastructure
The next generation of cars are going to be electric. In order to have sufficient supply to meet this surge in demand for electricity, there will need to be huge changes to the existing infrastructure.
Fetch.ai’s intelligent ecosystem will allow the agent within your car can seek out the nearest charging station, book your space and direct you there, saving the hassle of having to wait your turn at a filling station.
As the switch to electric vehicles (EVs) gains pace, more and more users will be seeking out places to recharge and the smart optimization technology will ensure that increased demand is met by the nearest available supply.
In addition, the ecosystem will allow you to choose not only an available charging point but direct you to one that has say a coffee shop or a playground nearby, making your stop more enjoyable and productive while you top up your car.
The intelligent supply chain will allow business to analyze future patterns, enabling them to navigate disruptions months in advance and preempt changes in customer buying patterns.
Artificial intelligence and blockchain technology will help companies to make sweeping efficiencies. For example, AI can utilize real-time information to help firms choose the best partner to trade with or to warn manufacturers about the need to conduct maintenance on a component of a delivery truck.
The global supply chain analytics market is estimated to be worth $9.2 billion by 2024. Autonomous agents equipped with thermometer skills can enhance the sector.
The creation of an unmodifiable audit trail of the recorded temperature history has numerous benefits. For example, wholesalers can use agents to check the temperature on their distribution trucks remains constant. If it doesn’t, they can implement additional measures to make sure their food arrives in the best condition. There is, after all, a strong economic incentive to do so. If the food they provide arrives in better condition than that supplied by their competitors, their profits will rise when retailers subsequently request larger orders.
The way we consume energy today is suboptimal. We have very static pricing which doesn’t reflect reality at all. Consumers have dozens of electronic devices in their home, but no way to optimize and manage their usage and pricing.
And it’s not just a consumer problem, energy companies have networks of massive peaks and troughs which if flattened would benefit them immensely.
Fetch.ai enables connectivity of all these devices through the use of digital representatives called Autonomous Economic Agents. Energy companies could offer discount incentives for energy consumed in troughs, creating a new dynamic marketplace. Whilst the consumer will automatically receive the best deal for them as their agents manage their consumption based on their own preferences.
A study by Fetch.ai and Imperial College London has demonstrated how Fetch.ai’s autonomous agents can use a new deep reinforcement learning technique to lower daily domestic energy costs by nearly 20%.
At present, autonomous energy systems rely on generation and consumption models that forecast the amount of energy that will be required by the user the following day. Such an approach is hindered by its lack of flexibility when circumstances inevitably change. The innovative approach adopted by Fetch.ai is model-free and utilizes smart meter data to achieve real-time autonomous energy control and reduce costs.
It will enable smart energy grids efficiently utilize renewable energy sources and help customers reduce their energy bills.
Collective learning is at the heart of the interactions between autonomous agents on the decentralized Fetch.ai network.
The technology will have a transformative effect across a range of sectors and we've demonstrated one example by focusing on the benefits it brings to the healthcare industry.
Doctors can use collective learning to optimize diagnoses, helping patients to receive effective care faster - and without giving away access to their private personal data.