As featured in Alexander Westin s great article titled Unpacking 3 Cryptocurrencies: Doc.ai, Cindicator & Starmine.ai .
Starmine.ai is focused on using its AI algorithms to generate specialized data that powers other AI and machine learning companies. They’re building a system that will enable machines to trade this data with one another in exchange for tokens. Currently, they support customers using their system for other data needs. Their focus, at least initially, caters to data vendors that supply data scientists in the financial area in particular, quantitative finance, hedge funds and cryptocurrency trading houses. They are planning to extend their operations to advertising, life sciences and other industries essentially by getting machines to trade tokens with one another in exchange for data that increases signal or a machines ability to predict. If something like this happens I can see the machines providing additional liquidity as they represent additional players in this market. This could result in AI machines bidding up the currency fairly quickly as data is the fuel for AI.
According their site they state “A commercial example of a Starmine built dataset with supercolumns can be found at Google’s data science community, Kaggle. Starmine supercolumns and datasets are currently being built and transacted by a variety of institutions in the Financial and Cryptocurrency markets including hedge funds, data vendors and Data-as-a-Service (DaaS) providers supported by Starmine’s engineering community where Starmine tokens will be used to transact on-demand updated real-time datasets and supercolumns. The Starmine platform is currently being extended to service ML and AI efforts in additional industries such as Life Sciences/Pharmaceutical, Food, Energy, Travel, Automotive, Entertainment, Advertising etc.”
Starmines ultimate goal is to power AI systems starting with the ones located in the Fintech ecosystem as shown below: