Synthetic data marketplace Neuromation became one of the most successful initial coin offerings (ICOs) of 2018, raising 100 percent of their target funding goal of $71.7 million in January 2018. Neuromation COO Yuri Kundin will speak about the daunting task of arranging company operations after launching a successful token offering at the 2018 ICORating Investment Summit, set to take place in New York City’s Times Center on March 28.
Artificial intelligence (AI) plays an increasingly important role in our lives, helping with tasks ranging from translation to route mapping to gaming. It’s all possible thanks to machine learning and neural networks, mathematical processes which require large sets of data to help AI algorithms learn from their mistakes to build accuracy. However, arranging for large volumes of data to help train machines is often very time-consuming and costly.
Neuromation’s blockchain-based marketplace allows AI companies to order ‘synthetic’ data - pre-labeled data created by a computer designed to speed up the process of deep learning for neural networks, allowing AI to become market-ready at a much faster rate.
The project aims to use computing power from cryptocurrency mining farms to help generate synthetic images and provide much higher rewards for miners than those offered by traditional cryptocurrency mining.
Neuromation’s ICO, which only ran from January 7 to January 8, 2018, raised 100 percent of the company’s funding goal of $71.7 million. ICORating gave Neuromation a positive rating.
While raising $72 million is no easy task, ensuring that the company delivers on its schedule and meets its stated development goals may be even more challenging. Neuromation’s COO Yuri Kundin is set to describe how the startup has organized operations in the wake of their successful ICO to make sure that they use their funds wisely while maintaining high productivity and delivering on their promises.
The 2018 ICORating Investment Summit is a premier networking and ICO discussion forum bringing together investment funds specializing in cryptocurrency, successful ICO projects with actively traded tokens, and aspiring ICOs seeking investments, resources and contacts.