AI System Beats Vegas at Sports Forecasting
20-week study shows that combination of human insight and AI processing can beat Vegas
CAMBRIDGE, England, Sept. 4, 2018 /PRNewswire/ -- Researchers today presented the first long-term study showing that an AI-powered system can outperform Vegas betting markets over an extended period. The system used in this research generated predictions for 200 NHL hockey games over a 20-week period during the 2017-18 season. While the Vegas oddsmakers proved 55% accurate in forecasting winners across those 200 games, the Swarm AI system achieved 61% accuracy across those same games. Furthermore, when using a simulated wagering protocol that placed equal bets on the Swarm AI predictions, the system yielded a +22% return on investment (ROI) across the 200 games. In addition, the system generated a "pick of the week" for each of the 20 weeks, achieving 85% accuracy and yielding 170% ROI. These results are described in a paper presented today in Cambridge, England at the IEEE Developments in eSystems Engineering Conference (DeSE 2018).
The technology, developed by Unanimous AI of San Francisco, CA employs a unique combination of real-time human input and AI algorithms that are modeled after swarms in nature. In this study, it operated by collecting input from 25 to 35 average sports fans in real-time, using intelligence algorithms to optimize their combined their knowledge, wisdom, insights, and intuitions. Known as Swarm AI, the technology has enabled accurate forecasts across a wide range of applications, from sports and politics to financial markets. This new study, however, is a milestone, as it demonstrates the ability to outperform Vegas betting markets over an extended period.
Swarm Intelligence, the science behind Swarm AI technology, is the reason why birds flock, bees swarm, and fish school – they are smarter together than alone. Across countless species, nature shows us that by forming closed-loop systems, groups can produce insights that greatly exceed the abilities of any individual member. While humans have not evolved this ability naturally, Swarm AI technology enables this artificially, allowing groups to amplify their intelligence by forming real-time swarms.
"The results of this study are extremely promising," said Gregg Willcox, Director of Research at Unanimous AI and a co-author on the sports forecasting paper. "And while it's fun to predict sports, we are currently applying the same techniques to a wide variety of other domains, including financial forecasting, business forecasting, and medical diagnosis, all with positive results."
The full paper, "Artificial Swarm Intelligence versus Vegas Betting Markets" will be presented by Dr. Louis Rosenberg at DeSE 2018, held September 2-5th in Cambridge, England. More information is available HERE.
About Unanimous AI
Unanimous AI is a Silicon Valley company that has pioneered Swarm AI® technology, a new form of AI that combines real-time human insights and AI algorithms modeled after natural swarms. Unanimous has generated an impressive track record of predictions, forecasts and insights. The company's technology has outperformed traditional AI systems and human experts in many high-profile challenges.
Unanimous works with corporate clients and leading organizations through its Swarm Insight® business intelligence service. Swarm Insight helps clients amplify the intelligence of consumer groups as well as amplify the intelligence of business teams to help make better decisions.
In 2018, Swarm AI was recognized as SXSW's "Artificial Intelligence Innovation of the Year" and was described in a popular TED TALK. For more about Unanimous AI, visit http://unanimous.ai
MEDIA CONTACT:
Joe Rosenbaum
Unanimous AI
410-458-7978
[email protected]
SOURCE Unanimous AI
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