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Bosch and Fetch.AI Launch $100M Foundation to Fuel Web3 Adoption

German multinational engineering giant Bosch and Cambridge-based artificial intelligence lab – Fetch.ai – have jointly unveiled a new foundation focused on fueling industrial adoption of software agents, AI, and Web3 technology.

Dubbed – Fetch.ai Foundation – this new initiative will focus on areas such as research and development as well as harnessing the application and adoption of agents, Artificial Intelligence, and Web3 decentralized technologies for real-world use cases to improve the existing network.

  • The target will also be to assist in the long-term development of Web3-powered solutions and services in sectors across mobility, industrial tech, and consumer products.
  • In a press release shared with CryptoPotato, Humayun Sheikh, Fetch.ai’s Founder and CEO commented.
  • At launch, the foundation’s board will be anchored by the Fetch.ai and Bosch teams. Meanwhile, the focus will be on slowly developing strategic participant growth with businesses that seek to develop the infrastructure for a “decentralized digital economy” driven by AI.

(By Chayanika Deka)

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