Fetch.ai Joins Forces with FESTO to Revolutionize Decentralized Manufacturing Marketplace
DeepMind, Manufacturing: Fetch.ai Partners with FESTO on Decentralised Manufacturing Marketplace
AI blockchain startup Fetch.ai is collaborating with the renowned company FESTO to introduce a decentralised marketplace for manufacturing. Fetch.ai, headquartered in Cambridge, UK, boasts a talented team with backgrounds from notable organizations such as DeepMind, Siemens, and Sony, focused on developing decentralised autonomous “agents” capable of executing real-world tasks.
Founded in 1925, FESTO specializes in producing pneumatic and electrical control and drive technologies. The company has successfully adapted over the decades, showcasing innovations like its bionic robots, such as the “flying fox,” which utilizes machine learning to enhance flight behavior with each movement. This partnership marks FESTO’s initial venture into blockchain technology, highlighting its commitment to staying at the forefront of technological advancements.
Through this collaboration, Fetch.ai aims to create a decentralised manufacturing marketplace that will optimize FESTO’s existing control systems. Maria Minaricova, Director of Business Development at Fetch.ai, expressed enthusiasm about the partnership, emphasizing the potential of autonomous AI agents to revolutionize manufacturing and supply chains. She added, “With FESTO’s contribution, we will be able to demonstrate in real life the benefits of autonomous AI agents in manufacturing and supply chain.” The team looks forward to working alongside FESTO to promote widespread adoption of these innovative manufacturing solutions.
The new marketplace will leverage Fetch.ai’s technology stack and its Multi-Agent architecture. FESTO anticipates that this marketplace can mitigate challenges inherent in traditional centralized manufacturing processes, such as demand fluctuations and uneven capacity utilization. Fetch.ai highlighted the benefits of embracing a decentralised approach, which could enhance supply chain optimization through real-time data, improve enterprise responsiveness to market demands, increase manufacturing autonomy, and facilitate personalized orders for customers.
A recent report from TrendMicro indicated that a significant portion of manufacturing environments still relies on outdated systems, even with better and more secure alternatives available. “Industry 4.0 offers unparalleled opportunities to increase productivity, enhance process efficiencies, and realise on-demand manufacturing,” stated Steve Quane, Executive Vice President of Network Defense and Hybrid Cloud Security for Trend Micro.
To explore these topics further, industry leaders can participate in events such as the 5G Expo, IoT Tech Expo, Blockchain Expo, AI & Big Data Expo, and Cyber Security & Cloud Expo World Series, which are set to take place in Silicon Valley, London, and Amsterdam.
NVIDIA Helps Germany Lead Europe’s AI Manufacturing Race
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Recent changes in educational policies have also paved the way for teachers in England to incorporate AI into their teaching methodologies. This adaption reflects a broader recognition of AI’s potential in transforming educational practices and engagement.
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Education, Legislation & Government
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Cryptocurrency and AI: The Intersection of Two Evolving Industries
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Conclusion
As cryptocurrency and AI continue to shape each other, the future looks promising yet complex. Stakeholders need to navigate the ethical landscape carefully to ensure that advancements in these technologies benefit society as a whole.
