Eduard Watson

11 months ago

Modern asset management currently relies on algorithms that analyze financial data based on numbers. Numbers can tell a compelling story, if you know which ones to look at. But when it comes to the emotions, events, predictions, and developments that determine the decisions of human investors around the world, numbers will never tell the full story.

The next frontier in asset management will be a tool that can analyze the nuances of human language.

An upstart AI company based in Seoul is developing an AI tool capable of doing that, and will be testing it in the highly volatile but exciting cryptocurrency market, through a partnership with CoinPayments. CoinPayments is the world’s largest altcoin payment gateway, with more than 1.4 million accounts across 182 countries.

This partnership will be an interesting one to watch for a few reasons. First, it represents a new level of sophistication coming to cryptoasset investing, which has, up to this point, been somewhat of an unregulated wild west, leaving many investors exposed to more risk than they would like.

And second, its success will rely on an audacious claim made by Mind AI — that it can develop an AI capable of performing natural language reasoning.

Unlike natural language processing, which trains an algorithm to recognize patterns in the written word in order to manipulate language, Mind AI’s system actually comprehends language, says John Doe, chief scientist for Mind AI.

“Our approach rejects the statistical modeling approach, and instead focuses on language comprehension and reasoning as the foundation,” Doe writes in a blog post. “We work off of meanings, instead of patterns. We are building an engine that acts like human reasoning, which means we can trace its processes and immediately spot errors in its logic and holes in its understanding.”

Doe says the Mind AI engine will move beyond sentiment analysis to actually reading, understanding, and reasoning with natural language to help make better investment and management decisions.

“Asset management is a space where we believe Mind AI can quickly make a large impact,” says Paul Lee, M.D., CEO and cofounder of Mind AI. “By working with the CoinPayments team, we’ll be able to create a proof of concept for the asset management space that we can use as a framework for other applications.”

Leave a Reply

Your email address will not be published. Required fields are marked *

Icon
1xBit

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
Nitrogen Sports

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
7bitcasino

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
BitStarz

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
FortuneJack

Lorem Ipsum is simply dummy text of the printing and typesetting industry....

Top Exchanges
Icon
CEX.IO

4.00

Read Review - Website

Icon
Coinbase

4.48

Read Review - Website

Icon
Binance

4.50

Read Review - Website

Top Casinos
Icon
7bitcasino

4.20

Read Review - Website

Icon
BitStarz

4.93

Read Review - Website

Icon
FortuneJack

4.55

Read Review - Website

Trending news

Binance

Trending news

Top Exchanges
Icon
CEX.IO

4.00

Read Review - Website

Icon
Coinbase

4.48

Read Review - Website

Icon
Binance

4.50

Read Review - Website

Top Casinos
Icon
7bitcasino

4.20

Read Review - Website

Icon
BitStarz

4.93

Read Review - Website

Icon
FortuneJack

4.55

Read Review - Website

Top Sportsbook
Icon
1xBit

4.03

Read Review - Website

Icon
Nitrogen Sports

4.73

Read Review - Website

Icon
SportBet.io

4.60

Read Review - Website

Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

1450 Articles
7255 Followers