Donaueschingen, 25 October 2001 – living systems AG, a global provider of collaborative commerce solutions based on agent technology, today announced that its living agents has won first place at the second annual Trading Agent Competition (TAC). Organized by the University of Michigan College of Engineering, TAC is a premier competition for artificially intelligent software programs that act as autonomous trading agents over the Internet.
Held in conjunction with the Association of Computing Machinery Electronic Commerce in Tampa, Florida, this year’s competition saw each agent cast as a travel coordinator - booking flight, hotel and entertainment offerings for travel customers. Simulating real-life markets, the agents had to bid autonomously; purchasing tickets in different trading formats, from OTC trading, continuous double auctions to English auctions. Serving their given travel clients, each agent’s challenge was to both maximize customer satisfaction and minimize cost of the travel packages.
Of the 19 participating teams from 9 countries, 16 were admitted to the semi-finals and 8 made it to the finals. In the final round, living agents ranked number one with a score of 3670. Last year’s winner ATTac (AT&T Research Labs) and Cornell University came in at 2nd and 3rd with scores of 3622 and 3513 respectively.
Besides the excellent result, the development time for living systems’ winning solution was also outstanding. It took living systems just four weeks to develop the complete agent scenario with the winning strategy. Said Christian Dannegger, CTO and cofounder of living systems, ’Agents’ inherent learning characteristic and autonomous nature allows for reactions to changes in the "markets". This adaptive behavior is a cornerstone of living systems’ technologies and applications as evidenced by each and every of our solution’s concise design and rapid development."