AI-Fi is likely to receive a $5 million investment from Autofarm in January 2023
Autofarm has published a blog post to announce that it is soon going to invest in AI-Fi during the strategic investment round that is tentatively scheduled to happen in January 2023. The investment is worth approximately $5 million with an objective to better integrate Artificial Intelligence and Machine Learning through AutoLabs, a research division that explores the integration of the said technologies.
The development comes to light as it aligns with the vision laid down by Autofarm, where it aims to integrate advanced AI and ML technologies.
Users can expect to have heavy benefits for them in the store. While the primary goal is to attain long-term sustainability of the Autofarm ecosystem, the secondary goal is to develop new products & features that will help users to earn maximum yields on their investment. Products and features developed are likely to include automated investment strategies that will be backed by the algorithms of Artificial Intelligence and Machine Learning.
Moreover, the strategic investment in AI-Fi by Autofarm supports its goal of expanding in the ever-growing industry of decentralized finance, which continues to see a rise in competition.
Autofarm has said, in the announcement, that the venture is excited to be at the forefront of the innovation. Calling this strategic investment a significant step in the DeFi sphere, Autofarm has laid down the commitment by highlighting that the team will research and implement strategies to provide users with the best possible yield. What makes it more interesting is that Autofarm will leverage its native token – AUTO – to serve the benefit of its users.
Autofarm is the one-stop decentralized finance hub with a decentralized exchange that is hyper-optimized cross-chain in nature. The venture has yield aggregators on 17 chains that are EVM compatible.
The announcement to invest $5 million in AI-Fi comes a day after Autofarm announced the release of AutoLabs with the aim of research, development, and integration of AI into the products of Autofarm. Defining itself as the lowest fee multi-chain DEX and yield aggregator protocol, Autofarm has called out the importance of revolutionizing yield generation and scalability on the platform.AutoLabs comprises a team of experts who come from a variety of AI backgrounds.
The platform will be able to review the real-time data after Oracles gather the information and form a bridge between on-chain and off-chain data. All the pieces of information will be related to chains and tokens that are supported by Autofarm. Following the result that is delivered, the platform will better make data-driven decisions about where it should allocate assets to generate the maximum yield.
All the profitable chains will be identified by deploying algorithms such as deep learning and neutral language processing.
The announcement to invest $5 million in AI-Fi sets a new trend for the industry where players are looking to provide a better yield to their users. Assuming the investment goes through with better results, users will soon be relaxed about their investments.
Similarly, the innovations taking place in the field of AI and ML are considered to be something significant, so there can be significant improvements within the DeFi field.
