What is hybrid intelligence and how can it help us make more accurate forecasts
Mikhail Brusov, Yury Lobyncev, and Artyom Baranov founded Cindicator in 2015. Now the startup specializes in developing hybrid intelligence technologies to create new products for the financial markets. Generally speaking, Cindicator is a community-based platform that uses hybrid technologies to offer innovative solutions for financial markets analysts. While other platforms exclusively focus on computer algorithms for data analysis, Cindicator pays special attention to forecasters’ collective intelligence.
Collective intelligence isn’t a new notion: it emerged in 1980’s as part of sociological research on group decision making. Since that time the studies have shown that collective mind is way more accurate in forecasting than a mere individual’s mind. That’s why researchers from the New Jersey Institute of Technology define it as a group collective ability of finding solutions that are much more effective than any individual solution offered by a member of this group.
In as early as 2014, Mikhail Brusov came up with the idea of creating an app that would allow users to compete in making various financial, political, and sports forecasts. In 2015, he was joined by the Octabrain neuro-laboratory project founders Yury Lobyncev and Artyom Baranov. After doing some research on collective intelligence, the team created Cindicator, a crowd-forecasting platform with an access to a SaaS-service displaying “crowd indices” for any real-time event. The data was obtained through a mobile app where users tried to give the most accurate event forecasts in a bid to win a prize.
The developers then decided to use this “crowd wisdom” for financial market forecasts. Currently the decentralized Cindicator community consists of over 100,000 analysts and token holders from more than 135 countries.
“We use our app to ask users various questions about financial assets. We compile their answers and make a collective database, which we then use to divide all the users into several categories. For example, if we see that you don’t have problems answering questions about Facebook, we place you into this category. This method helps us make more accurate forecasts,” explains Artyom Baranov.
Users are rewarded for their participation. If their forecasts are accurate, they are given CND tokens, which motivates them to be even more diligent.
Cindicator works with both traditional and cryptocurrency markets. According to Artyom Baranov, about 80 % of the company’s resources is directed at new markets.
The company is gradually expanding its product line. Among the company’s star products are Cindicator Bot, which notifies traders and investors of price margins in different markets, and Cryptometer, a tool which measures prices in several markets to detect signs of market volatility.
A total of 60 people are currently employed at the company. Apart from developers, data analysis specialists, marketers, and lawyers, there’s also a team of investment analysts.
Taking risks into account
Token Sale Review is yet another new product aimed at professional traders which the company is almost ready to launch. The product combines the data collected through hybrid intelligence platform, and with the expert evidence provided by the company's financial analysts.
“The market is gradually becoming more and more stable, compared to 2017: jobbery is not so common anymore, financial literacy of traders and investors is increasing. That’s why we created such a product, which combines the competences of the company’s specialists and the product’s users. Users make forecasts, which are then processed by our experts,” says Mr. Baranov.
Token Sale Review offers ICO projects analysis and assesses the situation after Token sale took place. Each month product users receive up to three reports containing targeted multi-step analysis of the companies that are currently buzzing on the market. According to Artyom Baranov, this data will help traders and investors not only factor in possible project risks, but also not to miss out on interesting startup launches.
“In comparison to last year, the number of projects has increased, however only a few ICO are currently being held publicly. One case in point is the Telegram messenger company: they wanted to conduct a public ICO, but in the end decided to do it through secure channels and selected investors. That’s why investors are often unaware of the opportunities present on the market and thus lose the chance to land interesting projects with viable products and effective teams,” points out Artyom Baranov. “Thanks to our extensive community network, skillful analysts who spend a lot of time studying all areas of the market, and our Cindicator Symbiotic Network interactive program, we have the opportunity of developing our own ecosystem which enables us to create a database of projects that will be useful and valuable to our users.”
During the development stage, the product has already been tested in customer development trials involving a small group of traders. Now the company is gearing up for the official release. The developers say that going forward, the product will evolve in line with customers’ feedback and demands.
Cindicator growth prospects
Following the ICO that took place in September 2017 Cindicator attracted $15,000,000 in investments, with 4,057 investors acquiring CND structural tokens. In the long term, the company founders want to pool their products into a single infrastructural system that will bring finance analysts, traders, and data specialists together. The company is now developing this system, which will allow them to create a separate investment fund that is based on hybrid intelligence technologies.
“We are currently focusing on developing a new ecosystem and creating solutions that will allow for better investment choices. To reach this goal, we plan on creating a capital management system that will be based on the products we offer,” shares Artyom Baranov.
Apart from that, the company is finding its place on Asian markets: Cindicator has already successfully debuted in Japan and South Korea and is currently adapting their products for these countries.
