Numerai, a San Francisco-based start-up, uses Artificial Intelligence to manage a hedge fund. Several developers are involved in the development of the program and, importantly, they do not even know each other.
Numerai has developed a system that masks actors' identity data before sharing information to a large anonymous community of big data experts.Similar to homomorphic encryption, this technology prevents developers from accessing more details while organizing data to facilitate modeling. Since the company recruits programmers online, it ignores their identity. In addition, payment is made in bitcoin.
Artificial Intelligence, the Future of the Financial Industry?
Numerai has been active in the sector for a year now. Even if the officials refuse to give more details, they ensure that the benefits are there. In addition, renowned players such as the founder of Renaissance Technologies have injected fresh money into its capital. The start-up also organized a first round of funding that enabled it to raise $ 6 million in funding. Hedge Funds have been using Artificial Intelligence for some time. Large groups such as Bridgewater Associates use this technology to improve their performance.
Around 7,500 experts participate in the Numerai project. They have built nearly 500,000 models that provide 28 billion forecast. Other similar initiatives include Two Sigma, a hedge fund based in New York.
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