wi-Q to bring AI-powered predictions to F&B
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 restaurant and being presented with truly personalised recommendations via your mobile, not just based on your own personal preferences but based on the wider context on-going in the world. 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, 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.”