AI startup and Top-tier UK University Team Up to Enhance Cryptocurrency Market

JJohn August 21, 2023 4:47 PM

Imperial College London has joined forces with AI startup FluidAI to address issues in the cryptocurrency market using emerging technologies. They are particularly interested in tackling the cryptocurrency space’s issue of liquidity aggregation.

Imperial College London collaborates with FluidAI

Imperial College London, a premier educational entity in the UK, recently made headlines with its collaboration announcement with FluidAI. Their joint venture aims to address some of the major issues plaguing the cryptocurrency market, with a particular focus on liquidity aggregation. The AI lab at the university, known as I-X, will be working closely with FluidAI to improve the tokenized market for various stakeholders including institutions, trading platforms, and retail investors.

FluidAI's focus on solving liquidity issues

Ahmed Ismail, the CEO of FluidAI, provided insights into the motivations behind the formation of the company. According to Ismail, addressing the liquidity issues in the cryptocurrency industry was a primary factor. Unlike traditional finance solutions, which make use of low-latency technology for speedy delivery of optimum prices, the decentralized and cloud-based nature of crypto makes this a challenge. FluidAI believes AI can overcome this hurdle by predicting and eliminating the latency, thereby delivering the best bid and ask prices in the market.

Imperial College London is not just known for its top-tier ranking among UK universities, but also for its Centre for Cryptocurrency Research and Engineering. This facility is where much of the research and application activity related to cryptocurrencies and blockchain technology takes place. Thus, the college's collaboration with FluidAI isn't just a venture into uncharted territory; it's a strategic move that leverages the college's existing resources and expertise in the field.

UK's substantial investment in AI infrastructure

The UK government isn't just standing by and watching the AI revolution unfold. They're actively laying the groundwork for this new era by setting aside a whopping $130 million for AI chips. These chips are a crucial component of AI systems, used for processing vast amounts of data quickly and accurately. This move is a clear indication of the government's intention to make the UK a front-runner in the AI race.

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