Fetch.ai and Imperial College London's I-X Hub have launched an Innovation Lab at its White City campus, along with a $10 million fund to support AI startups developing cutting-edge technology.
Fetch.ai, a leading artificial intelligence (AI) company built on the Cosmos blockchain, has announced a new partnership with Imperial College London’s I-X Hub. The partnership has resulted in the establishment of the Fetch.ai Innovation Lab at its White City campus. The lab will become a major research hub for AI, machine learning, and autonomous systems, expanding on Fetch.ai’s existing partnership with Imperial to advance AI solutions across a range of sectors.
Sana Wajid, director of development at Fetch.ai Innovation Labs, shared in an interview with Cointelegraph that the partnership will help push the boundaries of machine learning and automation systems. “The partnership will provide a space for high-caliber researchers and students to work on real-world AI applications, using Fetch.ai’s technology to create a vibrant ecosystem that nurtures talent, supports startups, and develops cutting-edge solutions to solve global challenges,” Wajid explained.
@Fetch_ai Innovation Lab is committed to supporting future builders by fostering creativity and providing hands-on opportunities like this#bootcampto nurture the next generation of AI innovators.Don’t miss this opportunity to level up your skills and compete for amazing…
— Fetch.ai (@Fetch_ai) October 7, 2024
$10 million fund to support AI startup development
In addition to the Innovation Lab, Fetch.ai also announced a $10 million fund for AI startups and other cutting-edge technology projects. The fund aims to provide the necessary financial resources to support startups, help them develop new products, and bring AI solutions to market faster.
Wajid stressed the importance of the fund, saying: “The fund will help accelerate the development of AI startups by providing the necessary support to turn them into industry leaders. This will help accelerate research and bring innovative AI products to market faster.”
Despite a decline in venture capital funding in many other industries, AI startups have seen a significant increase in investment. In the third quarter of this year alone, AI startups raised $11.8 billion. Fetch.ai’s new fund will continue to fuel this momentum, providing much-needed support to promising AI projects.
Wajid also touched on the challenges of scale, data privacy, and collaboration between humans and automated systems. She acknowledged that while the potential for AI is huge, it also raises complex ethical questions that need to be addressed.
