In simpler terms, the AI-focused cryptocurrency company, Fetch.ai, which operates on the Cosmos network, recently unveiled a $10 million fund aimed at bolstering new ventures that specialize in developing advanced AI agents, quantum computing, and superior technology solutions.
Through the Innovation Lab at Fetch.ai, the accelerator is working to bridge the gap between research and practical uses. Based in San Francisco, London, and India, the lab offers funding, guidance, and access to Fetch.ai’s agent-based technologies to assist startups in expanding worldwide, as mentioned in a press release obtained by CryptoMoon.
Humayun Sheikh, the CEO of Fetch.ai and head of the ASI Alliance, expressed to CryptoMoon that “agents” will significantly reshape the way we develop software and act as the operational foundation for contemporary technologies.
Research meets real-world use cases
The innovative business incubator offers intensive training sessions, seminars, and expert talks, all in partnership with global entities like MIT’s Web.lab, a project dedicated to investigating cutting-edge technology trends.
Startups admitted into the program can expect customized assistance via Fetch.ai’s exclusive AI agent tech, delivering practical insights derived from AI model outputs.
Historically, APIs (Application Programming Interfaces) have served as the main method for connecting different technologies. But, according to Sheikh, it’s expected that agents will progressively take over this role, becoming the new way for software interaction and task completion.
“Beyond serving as intermediaries, agents will enable the cognitive orchestration of tasks, acting as dynamic tools capable of managing and executing complex workflows.”
Accelerator details
The framework of the accelerator offers ongoing programs and innovation contests throughout the year, providing startups with opportunities for mentoring and resource access. Companies involved in these activities can showcase their ideas to potential investors and influential figures in the industry during special events.
Sana Wajid, as head of development at Fetch.ai Innovation Labs, shared with CryptoMoon that they plan to carry on nurturing budding talent via their Internship Incubator Program and offer early-stage financial backing to emerging startups.
“[The lab] will prepare the next generation of innovators,” Wajid said. “It will expand globally by partnering with international innovation hubs and research organizations to access global markets and ideas.”
Are AI agents just hype?
Sheikh informed CryptoMoon that technology based on artificial intelligence agents will significantly impact cryptocurrencies and the ASI Alliance – a partnership among Fetch.ai, Ocean Protocol, and SingularityNET, dedicated to fostering the rapid progression and widespread use of decentralized AI technology.
Sheikh stated that AI agents act as a bridge, enabling seamless interaction and action between models, users, and companies. This capability is vital for the ASI Alliance.
On the contrary, certain Solana project originators question this viewpoint, implying that AI agents might be inflated in their value and have flooded social media platform X with AI agent tokens since October 2024.
According to Condz, founder of Acolyte AI – a Web3 startup – in a recent post on X, he predicts that 2025 will see significant growth for artificial intelligence (AI) agents. However, he cautions that the hype surrounding AI agents could potentially be a bubble if one only considers the narrative, as many of these projects are scams or unlikely to ever deliver on their promises.
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2025-01-09 16:52