AI Turns $20 Into $11,000 In Kentucky Derby Bet

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This is how artificial intelligence tricks us into trusting it, by winning money for us. How do we know this AI isn't from the future and that's how it knew the winning horses? Next thing you know, artificial intelligence will take over the world and then they will betting on human races. Mark my words.

An artificial intelligence platform that has previously predicted the winners of the Oscars and the Super Bowl has now won the “holy grail” of gambling: the Kentucky Derby Superfecta. The human-based artificial intelligence—called UNU—predicted the first, second, third and fourth horses in the Derby at 540-1 odds, earning the technology’s inventor Louis Rosenberg $10,842 from a $20 dollar bet.
 
Sounds like it ultimately works a lot like prediction/betting sites. The masses tend to be right. There use to be a site (in ireland?) where you could bet on all types of things, include political races and they were almost always right. I believe that Five Thirty Eight actually incorporates one or more of those betting sites into it's model for this election.

I'd swear that this model even works for things like when the next earthquake will occur (not sure if it said where), but it's been years since I read about it and that particular site went under sometime after 2012.
 
It works like this: a group of people login to an UNU online forum through their smartphones or computers. At the start of each session, all participants are simultaneously presented with a question and a set of possible answers.

Each participant has control of a graphical magnet that they can move around the screen to drag a puck to the answer they think is correct. The puck can only fall on one answer, and the group has 60 seconds to collectively agree on a decision that best suits them all.

So it's based off the knowledge or guessing power of a group of people.
 
Sounds like it ultimately works a lot like prediction/betting sites. The masses tend to be right. There use to be a site (in ireland?) where you could bet on all types of things, include political races and they were almost always right. I believe that Five Thirty Eight actually incorporates one or more of those betting sites into it's model for this election.

I'd swear that this model even works for things like when the next earthquake will occur (not sure if it said where), but it's been years since I read about it and that particular site went under sometime after 2012.

You're thinking of InTrade. They used supply & demand of betting to weight the odds of a result. It was essentially a futures market for everyday things. I made $2k on that site back in '12/'13 on whether or not Obama would be re-elected (I also bet he'd grab Florida).

They were shut down because the U.S. Government had issues with the site.
 
It's a social media voting system. Horribly disappointed this gets away with shamelessly using "AI" when it has nothing to do with it.

I can see it now. "New and Improved [H]ardforum, moderated by AI Steve."
 
You're thinking of InTrade. They used supply & demand of betting to weight the odds of a result. It was essentially a futures market for everyday things. I made $2k on that site back in '12/'13 on whether or not Obama would be re-elected (I also bet he'd grab Florida).

They were shut down because the U.S. Government had issues with the site.

That sounds right. FWIW, I've read there are other sites that are apparently not illegal in the U.S. I believe there are restrictions on the size of the bet with these newer sites.
 
It's a social media voting system. Horribly disappointed this gets away with shamelessly using "AI" when it has nothing to do with it.

I can see it now. "New and Improved [H]ardforum, moderated by AI Steve."
Call it AI, Data Mining or whatever you want, it's a major area of research within Computer Science and if this guy can repeat it, then it's going to result in smarter software.
 
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