|Headquarters||San Francisco, CA|
|Key People||Richard Craib, Founder|
|Products||Hedge Fund, Machine Learning, and Artificial Intelligence|
Numerai is a hedge fund that uses machine learning and a large network of data scientists to predict the stock market. Its investors include Union Square Ventures, Fred Ehrsam, co-founder of Coinbase and Paradigm, and Howard Morgan, founder of Renaissance Technologies.
Numerai is essentially a crowdsourced, semi-passively-managed hedge fund. Its model functions like a weekly competition in which data scientists compete to code the most effective model for predicting price movements in the stock market. Predictions are scored on a public leaderboard, and the participants with the best-performing models are given Numeraire (NMR), a cryptocurrency that is native to the Numerai platform. The data provided by the best-performing models of the previous week are then used to manage the hedge fund.
The way Numerai works, the data submitted to the network is encrypted before it can actually be used. This means that the data scientists working on the network can't see the details of the company's proprietary trades, and the employees running the network can't see who is submitting the data. Numerai plugs the (encrypted) data provided by the scientists in its network into components of otherwise incomplete machine learning models, automatically producing predictive models that can, theoretically, predict price movements of the stock market.
Richard Craib - Founder
- The hardest data science tournament on the planet.. Numerai.
- Numerai. LinkedIn.
- This Is The World's First Cryptocurrency Issued By A Hedge Fund. Forbes.
- Artificial intelligence-focused Numerai raises $1.5m. Financial Times.
- Tournament Overview. Numerai.
- Game Theory Optimal Play for the Numerai Competition. Numerai.
- 7,500 Faceless Coders Paid in Bitcoin Built a Hedge Fund's Brain. Wired.
- Exchanges trading Numeraire. Coinranking.com.