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

The two long-term partners have also been building a decentralized machine-learning network.
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.


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In a press release shared with CryptoPotato, Humayun Sheikh, Fetch.ai’s Founder and CEO commented,“Over the next three years, our team will look to inject upwards of $100 million into industrial AI through various grant programs as a way to accelerate growth within our space alongside like-minded businesses and partners. We would also like to encourage other industrial players to join the foundation to steer and influence the development of this AI-powered peer-to-peer tech stack.”

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To that extent, Peter Busch, Chairperson of the Fetch.ai Foundation, believes combining disrupting technologies with the proven world-class hardware and software capabilities of the classic engineering corporations is crucial which will ultimately pave the way for other partners to join. Busch further added, “Bosch as one of the worldwide leaders in industrial engineering and mobility solutions sees the huge need for smarter technologies and governance to cope with the challenges coming with ever more connected ecosystems regarding safety/security, privacy, and data ownership”
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