LONDON, August 16, 2018 /PRNewswire/ --
Partnership marks the first public roll-out of Fetch.AI autonomous economic agents
wi-Q Technologies, the leading experts in mobile ordering in the hospitality sector, has announced a new partnership with Cambridge-based Fetch.AI, the world's first adaptive, self-organising 'smart ledger'.
Fetch, whose founders include original scientists and investors from DeepMind - the artificial intelligence research company acquired by Google in 2014 - has created a 'decentralised digital world', where autonomous software agents trade, organise and analyse data on behalf of the individuals or organisations that own them, to find and create value from previously siloed data.
The unique partnership will see wi-Q Technologies become the first hospitality technology company to develop its own, 'Autonomous Economic Agent (AEA)' within Fetch's decentralised digital world. wi-Q Technologies' world-first AEA, will effectively become an expert in all things hospitality, feeding personalised recommendations or predictions to the end traveller or venue via its fully brand customisable mobile ordering and experience platforms, wi-Q and Mi-Room.
Imagine arriving at a hotel and being presented with truly personalised recommendations for ancillary services via your mobile, not just based on your own personal preferences but based on the wider context on-going in the world. At the simple end of the spectrum, the autonomous agent might upsell a late check-out based on the amount of alcohol ordered by the guest the day prior. However, it's the ability of the autonomous agent to integrate contextual understanding from the wider Fetch.AI system that makes advanced uses possible. For example, if there is a major sporting or cultural event occurring in the destination, the agent will offer products it knows people are more likely to select, such as a halal meal during Hajj, or perhaps burgers during football tournaments.
Graham Cornhill, Founder and Managing Director of wi-Q Technologies commented, "Driven by demands from both consumers and the industry, hospitality technology is evolving at an incredible pace. wi-Q was founded with a mission to future-proof the industry by delivering next-generation technology that is accessible, scalable and affordable. The capability and usability that the partnership with Fetch will deliver is incredible and will give any hospitality venue a valuable competitive advantage that we couldn't have imagined even two years ago. This is a game-changer for the industry, and we expect demand to be high."
With an AEA working on its behalf, wi-Q Technologies' platforms, wi-Q and Mi-Room will not only boost revenue by intelligently recommending products based upon a host of variables - including for example, the temperature or time of day, what events are taking place or the customer's historic preferences - but will also dramatically improve operational efficiencies via real-time models that predict consumer demand to improve stock and staff management.
Toby Simpson, Co-Founder and CTO at Fetch.AI added: "At Fetch we offer a completely new means to deliver practical AI that makes an impact today. Why should it be that only the giant internet companies are able to develop algorithms based on their proprietary data silos? With Fetch we provide an alternative model that puts the power back in the hands of the asset-owning businesses, whether they're hotels, airlines, taxi companies or indeed any other. Our unique 'Smart Ledger' provides a decentralised means of deploying AI algorithms via Agents that act and transact autonomously."
About wi-Q Technologies:
wi-Q Technologies are the British hospitality-technology company behind wi-Q and Mi-Room, the award-winning, mobile ordering and digital experience platforms deployed in hotels and F&B outlets around the world. Venues include: coffee shops, takeaway restaurants, beach and poolside restaurants, nightclubs, cinemas and exhibition centres.
Through an innovative web-based application, customers interact with a venue's F&B menu, products or guest services via one fully-brand customisable, multilingual and multi-tenanted front end, which they access via the internet browser on their own device. There is no app to download and no registration to complete.
Features include: POS/PMS-integrated ordering and payments, automatic language translation, dietary / allergen filters and a plethora of payment options including Split the Bill, Credit / Debit Card, Charge to Mobile, PayPal and even cryptocurrency. All of these features are instantly accessible in the customers' native language through an intuitive user-interface that is proven to boost engagement and revenue.
For the venue, the easy-to-use Back Office integrates with world leading POS and PMS providers, including Oracle Hospitality, Amadeus and Agilisys. It also facilitates real time menu updates, revenue reports and the integration of third-party technology and services - such as loyalty schemes or data-driven marketing tools.
Available on a SaaS pricing model with little to no CAPEX, venues with wi-Q or Mi-Room typically experience an instant ROI thanks to their upselling, cross-selling and intelligent experience capabilities. To find out more about wi-Q for F&B or Mi-Room for hotel guest services, please visit www.wi-q.com or www.mi-room.com.
Fetch.AI provides the next-generation, digital trading platform where AEAs representing individuals and their assets, product manufacturers and service providers can find each other, interact and execute unsupervised economic transactions. They operate in pairs or as collaborative, multiple parties to construct solutions to today's and tomorrow's complex problems.
Adaptive, self-organising Machine Intelligence is at the heart of Fetch.AI's decentralised network. It delivers the proactive search for solutions and the promotion of supply or excess capacity with actionable predictions and constantly-evolving trust information. It enables friction-free, autonomous value exchange to make consumers' lives easier and to optimise product & service providers operating structure.
Powered by innovations such as the world's first 'Smart Ledger', Fetch is the missing, critical infrastructure for emerging market places and future economies.
Fetch.AI is headquartered in Cambridge, UK