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MAGOS to launch fund managed by AI that can predict future events with high accuracy
Artificial Intelligence (AI) is bound to transform the world we live in, as some believe that in the future we won’t even have to work anymore, as production will be at an all-time high thanks to AI agents. Although that may still be far away, AI has already managed to do some amazing things, such as spotting cancer in tissue slides better than humans, anticipate fraudulent payment attacks before they occur, trade stocks, and even flag errors in legal documents.
For example, OpenAI recently set out to test its AI by creating a Dota 2 bot. Dota 2 is an extremely complex game with thousands of possible tricks – from faking attacks to force opponents to dodge, to predicting where an enemy will be in the dark. OpenAI’s agent learned the game from scratch by self-play, and soon enough became good. So good, he beat the world’s top professionals at 1v1 matches under standard tournament rules.
AI’s incredible learning capabilities can be used in the cryptocurrency space, and that is exactly what MAGOS is doing, through the creation of a fund that is to be managed by AI with a highly accurate forecasting ability, and overseen by its team of experts.
MAGOS combines AI with blockchain technology
With the use of blockchain technology and Neural Networks, which essentially are software that simulates a biological brain with the goal of learning and recognizing patterns in data to, in the future, use similar patterns to predict the outcome of various events, MAGOS is creating a fund.
MAGOS is essentially a complex, scalable model based on five Neural Networks that, working together, have the power to predict the outcome of various events with high accuracy, much better than most individuals and systems.
Back in February, MAGOS began a 4-month long test. A third-party website that specializes in crowdsourcing sports picks to develop prediction analytics was used, and it showed that MAGOS held an edge over the competition, with an overall ROI (Return on Investment) of about 28%.
The system’s complex forecasting abilities will be applied to various domains on multiple platforms, in order to make a profit. It will initially use sportsbooks and conventional prediction markets, but will in the future expand to decentralized Ethereum-based prediction markets, integrating with projects like Augur, Gnosis, and Stox.
MAGOS’ token sale
MAGOS recently announced a token sale that will start on August 16, in which its MAG tokens will be distributed to investors. These will serve as ownership in the fund, whose dividends will be distributed with the use of Ethereum smart contracts, so that 85% go to token holders, 10% are reinvested into the fund, and 5% are used for operating expenses.
Moreover, token holders will be able to vote to change various parameters in MAGOS, including how profits are distributed. A total of 38,595,000 tokens will be distributed during the token sale. Tokens can be purchased with Ethereum and Bitcoin.
Official website : MAGOS.io
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Source: News Bitcoin