Humayan Sheikh is the CEO and co-founder of Fetch.ai, an artificial intelligence (AI) and blockchain company that aims to create a decentralized digital economy. Sheikh is a pioneer in the field of AI and mobility, and he is passionate about exploring the potential for AI to revolutionize the way we move around our cities.
The intersection of AI and mobility is a rapidly growing field, with numerous trends and innovations that are shaping the industry. One of the most significant trends is the move towards autonomous vehicles, which are powered by AI algorithms that allow them to navigate roads and make decisions without human intervention. Other trends include the use of AI to optimize traffic flow and reduce congestion, as well as the development of new business models that leverage the power of AI to create more efficient and sustainable transportation systems.
However, with these opportunities come significant challenges. One of the biggest challenges is ensuring that AI-powered mobility is safe and secure, both for passengers and for other road users. There are also concerns about the potential for AI to displace human workers in the transportation industry, and about the impact of AI on privacy and data protection.
Fetch.ai is working to address these challenges by developing innovative solutions that harness the power of AI to create more efficient and sustainable transportation systems. One of the key ways that Fetch.ai is doing this is through the development of autonomous agents, which are intelligent software programs that can interact with the environment and make decisions on behalf of their users.
These agents can be used in a wide range of applications, from optimizing traffic flow and reducing congestion to enabling new business models in the ride-sharing and public transportation spaces. By leveraging the power of AI, Fetch.ai is helping to create a more user-friendly and efficient transportation system that is better suited to the needs of today’s consumers.
Humayun Sheikh, Fetch.ai Founder and CEO
Humayun Sheikh is an entrepreneur, investor and a tech visionary, who is passionate about technologies such as AI, machine learning, autonomous agents, and blockchains. In the past he was a founding investor in DeepMind where he supported commercialisation for early-stage AI & deep neural network technology. Currently, he is leading Fetch.ai as a CEO and co-founder, a start-up building the autonomy of the future. He is an expert on the topics of artificial intelligence, machine learning, autonomous agents as well as the intersection of blockchain and commodities.
Automotive Industries (Ai) asked Humayun Sheikh about the intersection of artificial intelligence (AI) and mobility and how it is revolutionizing the future of transportation and the cities we live in.
Humayun Sheikh: AI-powered technologies are enhancing safety features, optimizing transportation routes, and providing more efficient transportation options. From autonomous vehicles to intelligent traffic systems, AI is improving the way we move and interact with transportation systems. As these technologies continue to evolve, they have the potential to create more sustainable, efficient, and livable cities, while also addressing some of the most pressing transportation challenges of our time.
Automotive Industries: Tell us about the AI trends that are shaping the mobility industry as well as opportunities and challenges that lie ahead.
Humayun Sheikh: The mobility industry is witnessing major trends in AI-powered self-driving vehicles, connected vehicles, predictive maintenance, and intelligent transportation systems. While these trends offer immense potential, challenges persist in developing safe, reliable, and accurate AI systems that can perceive the environment and make critical decisions.
Connected vehicles and intelligent transportation systems can optimize traffic flow and improve safety, but developing scalable and robust AI algorithms that can handle real-time data volumes is crucial. Similarly, predictive maintenance can reduce downtime and maintenance costs, but developing predictive models that can account for varying usage patterns and environmental conditions remains a challenge. Nonetheless, these trends promise to revolutionize the mobility industry, making it more efficient, safe, and cost-effective.
Automotive Industries: What are Fetch’s plans within the sector to help drive change.
Humayun Sheikh: In the realm of software engineering for urban development and mobility industries, two key aspects are essential: the creation of robust developer tooling, frameworks, and infrastructure to streamline the software engineering process and continued support for teams utilizing these tools to develop increasingly sophisticated applications that solve complex challenges. An excellent example of this is our collaboration with the Datarella team at the 2021 IAA Mobility Festival, where we demonstrated autonomous parking capabilities using our autonomous economic agent framework. This achievement exemplifies the potential of AI-powered systems to revolutionize the mobility industry and address critical issues.
Automotive Industries: What are the ways AI-powered mobility is enabling new business models and improving the user experience for consumers in spaces like ride-sharing and public transportation.
Humayun Sheikh: From a practical perspective ride-sharing companies are using AI algorithms to optimize their fleet management, predict demand patterns, and improve pricing strategies. This enables them to offer more affordable and convenient transportation options without sacrificing profitability. AI is also being used to dynamically adjust routes and schedules based on user preferences and real-time traffic data. In the public transportation space, AI-powered systems can improve the reliability and efficiency of transportation services by leveraging predictive analytics to proactively maintain the quality of the existing fleet. Moreover the integration of AI-powered mobility is opening up new opportunities for companies to create innovative business models in the transportation industry. For instance, companies could leverage AI algorithms to identify untapped markets or niche transportation needs, such as elderly or disabled riders, and create specialized services to cater to those needs. Additionally, new partnerships could emerge between transportation companies and other industries, such as retail or entertainment, to create a more seamless and integrated user experience
Automotive Industries: How is AI is transforming the mobility industry, from manufacturing to design as well as the benefits and challenges of implementing new technology into this area.
Humayun Sheikh: Generative design models are used in the initial vehicle prototyping phase. Predictive analytics are used in the manufacturing process to ensure lean and consistent production with minimal setbacks. Supply chain wide AI enabled process optimization in combination with increasingly sophisticated demand forecasting allows companies to maintain lean production environments whilst ensuring near optimal production and delivery times. These are a few examples that illustrate the applicability of AI through the entire chain. One major challenge is the high cost associated with research and development of AI-powered technology, as well as infrastructure investments. Data privacy and security are also a concern in the mobility industry, as the use of AI technology involves the collection and analysis of large amounts of data. Ethical considerations are also a challenge, such as the impact on jobs and the workforce.
Automotive Industries: Tell us about the Fetch.ai Foundation, a new initiative focused on fueling industrial adoption of software agents, AI, and Web3 technology across industries including mobility.
Humayun Sheikh: The Fetch.AI Foundation is a non-profit organization based in the Netherlands, founded and governed by representatives from Fetch.ai and Bosch. The Foundation aims to advance innovative technology in the areas of artificial intelligence and distributed systems whilst promoting an open and transparent ecosystem based on data sovereignty, innovation and balanced governance. The Fetch.ai Foundation vision is of a world where technology seamlessly integrates into every aspect of industry and enterprise, unlocking limitless potential for growth and innovation.