Fetch.ai heralds an unprecedented economic revolution through a network of autonomous AI agents. Theoretically, its decentralized approach could optimize entire sectors. However, Fetch.ai has yet to demonstrate its concept successfully. Its vision of a vast ecosystem governed by artificial intelligence is sound and is likely to evolve sooner or later. The risk remains that tech giants like Google or Microsoft might pursue developing it themselves.
In 2018, in its White Paper, Fetch.ai declared: “We are not fixing the old economy, we are creating a new one.” This was a particularly ambitious statement. Yet today, the question remains: where do we stand?
Smart Contracts and Artificial Intelligence
When this White Paper surfaced, the idea of smart contracts was starting to gain traction.
Smart contracts transform blockchains into programmable platforms. They first appeared in 2014 with the introduction of Ethereum. Others followed: Solana, BNB (Binance), Cardano… Smart contracts allow for the development of innovative applications based on cryptocurrencies: loans, insurance, metaverses, NFTs (protected artworks), etc.
In practice, some smart contracts have shown vulnerabilities, proving quite costly for their investors. However, one of Fetch.ai’s ideas is to replace smart contracts with applications developed via artificial intelligence.
The Flaws of the Current Economy
In its White Paper, Fetch.ai criticizes the current just-in-time economy, highlighting its structural limitations and vulnerability to disruptions.
Centralized and Rigid Systems
The just-in-time economy relies on centralized coordination and supply chain optimization. This implies:
- Resources are used very efficiently (minimal buffer stock).
- Any disruption can trigger a domino effect due to the system’s lack of flexibility.
- The capacity to respond in real-time to changes is limited.
A Lack of Global Intelligence
Economic actors are not intelligently interconnected. Decisions are often based on pre-established forecasts rather than on continuously updated information.
Lack of Optimization
Many costs remain concealed within the system, creating situations of over-supply or under-supply, or needless transport (e.g., half-empty trucks).
A New Economic Environment
What is striking about Fetch.ai is the foresight presented in its White Paper. It was published in March 2018, when the concept of an artificial intelligence based on a decentralized system was far from mainstream.
Yet, from inception, Fetch.ai sought to combine AI and blockchain to create an autonomous ecosystem capable of supplanting the current economy. The proposed solution? The development of a decentralized network of autonomous AI agents, capable of interacting with each other and the outside world.
Among the essential points covered in the White Paper are:
Autonomous Economic Agents
These are intelligent software entities capable of representing people, businesses, connected objects, or services. They can:
- Make decisions.
- Negotiate and collaborate with other agents.
- React in real-time to supply, demand, weather, traffic, etc.
- Facilitate self-optimization of systems like logistics.
FET Token
The FET token of Fetch.ai is utilized to:
- Pay for transactions.
- Access resources and services provided by agents.
- Reward participants for their contributions to the ecosystem.
Who is behind Fetch.ai?
Fetch.ai was founded in 2018, based in Cambridge, UK. At the core of the project are three visionaries:
Humayun Sheikh – CEO
An entrepreneur and businessman, Humayun Sheikh combines a visionary outlook with a pragmatic approach. He was previously an investor in DeepMind, the AI startup acquired by Google.
Toby Simpson – COO
Toby Simpson gained fame in the late 90s as the producer of the video game series Creatures, a pioneer in artificial life. He later worked at DeepMind as head of software design.
Professor Thomas Hain – Chief Scientist
An expert in signal processing and machine learning, Hain is a professor at the University of Sheffield, located in the north of England. His research focuses on voice recognition and the optimization of complex systems.
Use Cases for Fetch.ai
Fetch.ai aims to be at the forefront of major revolutions in the economic field. Here are some examples.
Automation of Data Sales
With autonomous economic agents, the production or capture of data can become economically viable. An AI agent in a vehicle can sell real-time traffic data to other agents. Likewise, an IoT sensor can sell weather information to services where such data is crucial.
Transport Optimization
Autonomous economic agents can coordinate transportation services to enhance efficiency and reduce costs. An AI agent representing an autonomous vehicle might negotiate with other agents to optimize routes, avoid traffic jams… They can also assist in optimizing parking management.
Smart Energy Management
Autonomous economic agents could balance energy supply and demand, aligning with a model defined as the Internet of Energy (a decentralized energy exchange network spanning across a continent like Europe) facilitating optimized distribution of surpluses. For instance, an AI agent representing a house with solar panels could sell excess energy to buildings with high demand at a given time.
Who Has Adopted Fetch.ai?
Fetch.ai has received considerable praise for its bold vision. However, the company has struggled to validate its concept. The challenges arose from both the technical complexities of deploying autonomous agents and the hesitance of industrial players to adopt decentralized solutions that are still largely untested.
Bosch
The most notable partnership for Fetch.ai thus far has been with Bosch. The German multinational has primarily engaged in various R&D experiments through the Fetch.ai Foundation.
Together, the two companies have developed multiple solutions.
- Vehicles capable of automatically negotiating charging stations.
- Integration of autonomous agents in connected factories to optimize manufacturing processes and predictive maintenance.
- Creation of an ecosystem where IoT devices become economic actors.
- Applications such as smart parking.
The only drawback: these experiments have yet to result in large-scale deployments.
Deutsche Telekom – AI Telecommunications Infrastructure
Deutsche Telekom has collaborated with Fetch.ai to explore the integration of AI and blockchain into telecom infrastructures. However, this partnership remains limited to R&D.
Alibaba Cloud
In November 2024, Fetch.ai was incorporated into the Chinese solution Alibaba Cloud to enhance security, resilience, and performance.
Instituts Indiens de Technologie (IITs)
In April 2025, Fetch.ai launched innovation labs in partnership with three IITs: Madras, Kanpur, and Mandi.
Imperial College London
In October 2024, Fetch.ai inaugurated an innovation lab as part of the I-X initiative at Imperial College London. This lab supports startups with a $10 million fund.
Zus Network – Secure Decentralized Storage
In January 2025, Fetch.ai established a partnership with Zus Network, an American subscription streaming service, to deliver secure and decentralized storage solutions.
What Future for Fetch.ai?
In 2024, Fetch.ai faced financial difficulties, leading to administration. Its token FET suffered from the overall decline in cryptocurrency values — as reported by a site like CoinGecko: Ethereum experienced a decline of nearly 50% over a year, and Bitcoin, 17%. However, the decline of the FET was more pronounced: – 75%. Ultimately, Fetch.ai was acquired by Assembl.ai. The new entity is led by Humayun Sheikh and has relocated its operations to Dubai.
If there is a glimmer of hope, it emerges from the merger of Fetch.ai with SingularityNet and Ocean Protocol under the Artificial Superintelligence Alliance (ASI). By amalgamating the resources and expertise of these three entities, the ASI seeks to create a large-scale decentralized AI network, with the FET token serving as the unit of exchange.
What can ultimately be said? The Fetch.ai platform embodies a robust idea — an economy self-regulated by autonomous agents — yet it has not succeeded in translating this concept into large-scale, tangible services and values. Fetch.ai must thus validate its model in production, and enlist an ecosystem of developers and partners around its framework.
In the end, the greatest threat to Fetch.ai might be witnessing larger corporations, particularly Google, OpenAI, or Microsoft, incorporate these concepts into their own solutions…
