Numerai

Numerai is an AI-run, crowd-sourced hedge fund based in San Francisco[1]. It was created by South African technologist Richard Craib[1] in October 2015[2].

Numerai’s trades are determined by an AI, which is fueled by a network of thousands of anonymous data scientists[3][4][5]. The technological innovation Numerai provides is in its use of structure-preserving encryption that they apply on their data feeds. Its aim is to prevent biases and overfitting, it also makes possible for Numerai to share their data feed for free with its users.[6]

Numerai's investment group was led by Howard Morgan of Renaissance Technologies[7], and its investors include Naval Ravikant[8].

Numerai hosts a weekly tournament[9], in which data scientists submit their predictions in exchange for the potential to earn some amount of USD and cryptocurrency called Numeraire. Numerai raised $7.5 million in 2016 in two funding rounds.

References

  1. 1 2 "An AI Hedge Fund Created a New Currency to Make Wall Street Work Like Open Source". WIRED. Retrieved 2017-08-09.
  2. ↑ "Numerai | crunchbase". www.crunchbase.com. Retrieved 2017-08-09.
  3. ↑ "An AI Hedge Fund Created a New Currency to Make Wall Street Work Like Open Source". WIRED. Retrieved 2017-08-09.
  4. ↑ "No ICO: Hedge Fund Numerai Releases Blockchain Token But Skips the Funding - CoinDesk". CoinDesk. 2017-06-21. Retrieved 2017-08-09.
  5. ↑ Roof, Katie. "Numerai is a crowdsourced hedge fund for machine learning experts | TechCrunch". Retrieved 2017-08-09.
  6. ↑ "Numerai - Full Data File". Business of Crypto. 2018-10-12. Retrieved 2018-10-12.
  7. ↑ "Artificial intelligence-focused Numerai raises $1.5m". Financial Times. April 18, 2016.
  8. ↑ "No ICO: Hedge Fund Numerai Releases Blockchain Token But Skips the Funding - CoinDesk". CoinDesk. 2017-06-21. Retrieved 2017-08-09.
  9. ↑ "Numerai". numer.ai. Retrieved 2018-05-18.
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