Artificial Intelligence (AI) has become the frontrunner of the rapidly increasing technological innovations and discoveries. As the business sector is rapidly improving, stock analysis and prediction are important. A company named, Numerai is preparing a collective artificial intelligence in order to make stock market predictions.
The team at Numerai is emphasising on taking the most accurate and original machine learning models from the world’s best data scientists. The data is then planned to synthesised into “a collective artificial intelligence.” Numerai at present aims to command the capital of an American hedge fund.
The company, Numerai is established by mathematician Richard Craib. The company relies on weekly machine learning tournament to bring together data scientists to develop models using AI. These models are further used to predict the stock market movements. The best predictions are prized. The best from their data science community are rewarded with Bitcoin.
Numerai data scientists since 2015, have submitted a staggering 12,094,553,641 equity price predictions. That is something around 12 billion predictions.
Numerai describes itself as functioning with a “hive mind” with a primary focus on collaboration. The website explains the team and function of Numeria as “No data scientist on Numerai has a machine learning model that is better than all the other models combined.” Further, it is mentioned that “Numerai is not a search for the ‘best’ model; it is a platform to synthesize many different models with many different characteristics. Although data scientists compete to place on the leaderboard, the competition is designed to collect models.”
Numerai is thereby all about bringing the best out of the best available data, according to the website. It even stated, “Numerai is not really a competition; it’s an invisible collaboration to build the meta-model.”
Numerai is therefore set to launch a new way of thinking by introducing an AI that analyses stock markets and make predictions.