Transport systems have often been flawed. Although in the 21st Century we may be armed with smartphones, applications and notifications, we as individuals are still required to do all of the work in order to find out a route. Our transport systems require a lot of self-serviced work.
Fetch.AI, the world’s first artificial intelligence powered, self-organising smart ledger, is looking to change the way in which we interact with transport systems, utilising their groundbreaking technology. What Fetch aims to disrupt, is the way in which data is shared. Their pioneering work into the world of AI led autonomous economic transactions has several use cases. Here, we break down just how this work can change the world of travel.
In today’s world
Today a person lands at Heathrow. They want to get home to Cambridge, so they switch on their smartphone, open a travel app and input their requested journey. They can manually switch between the options of taking the train, going by road, or a combination of the two but it is the consumer that drives this decision based on the options available.
The person will embark on the journey but it may well extend beyond the predicted time and ease of the options initially presented. The person may well encounter unforeseen difficulties on the train line. There may be an accident on the road that is impossible to predict how long it will take to clear. Alongside this, there are inefficiencies experienced by the ecosystem such as the rail companies with empty seats, lack of insight into traffic use/demand on the roads and taxi’s empty or in the wrong place.
In the Fetch World
The consumer installs a Network Participation App that will act as their personal Fetch Autonomous Economic Agent (AEA). They detail the journey start and end location, preferences, and expectations may be seen from previous transportation behaviour. Each part of the ecosystem, such as the rail networks, traffic data collation and mobile phone companies, will also have an AEA that is taking their data and offering it for consideration within the OEF.
With the introduction of Fetch, previously useless, discarded data now realise a monetary value and is used by the AI built into the digital world to deliver evolving insight and efficiency never seen before into the travel ecosystem. In this specific case, there will also be less requirement for manual decision making as the AI continues to learn the person’s preferences. The consumer benefits from reduced service discovery & brokering. The initial set-up and configuration and modifications of smart contracts appear to be far less painful and laborious.
The Fetch ledger with built-in machine learning capabilities will get more and more sophisticated about offering the right information to AEAs at the relevant time. The decision-making capability or ‘intelligent’ options AEA can produce will likewise get increasingly accurate as more and more sources take part.
The use cases and capabilities that Fetch has are on course to change the way in which data is shared and exchanged between people and systems. Behind their powerful technology is a dedicated team of AI experts who are changing the way in which man and machine interact, ultimately benefiting our society in many ways.
You can read more on the Fetch.AI project here and see how this technology will be used in the future.
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