Artificial Intelligence News & Update: AI Wins $11,000 After Betting In Kentucky Derby

We usually see artificial intelligence or AI operating in establishments, closed offices and underground laboratories. But did you know that AI is also smart enough to win a bet? According to reports, an AI just won $11,000 after winning in a Kentucky Derby Superfecta.

AI Wins Bet In Kentucky Derby

Newsweek reported that a human-based artificial intelligence called UNU, successfully predicted the first, second, third and fourth horses in the Derby at 540-1 odds. UNU inventor, Louis Rosenberg earned $10,842 from his $20 bet.

"When I saw the horses cross the line, I knew I was witnessing a milestone in the predictive abilities of AI, as well as a harbinger to future changes in how the world views sports gambling," Rosenberg told the publication.

Hope Reese of TechRepublic also placed a $1 bet on the race and she ended $542.10 richer after the race. "I placed my $1 bet on the race at the Derby on Saturday and made $542.10 -- the odds of winning the superfecta [the top 4 finishers in order] were 540-1," Reese wrote.

How UNU Works?

The technology uses a unique form of AI called swarm intelligence. This process does not replace human intelligence but amplifies it. The algorithm aims to gather collective knowledge and intuition from a group to give a unified voice, which differentiates it from a poll that divides a group.

Per CBS News, the closed-loop system applies the idea that "many minds are better than one." This gives a group a better chance at reaching optimal decisions.

A group of participants will login to the UNU online forum through their smartphones or computers. They will be presented with a set of questions and possible answers.

There is a graphical magnet that participants can move around the screen to drag a puck to the answer that they think is correct. The puck can only fall on one answer and the group has 60 seconds to agree on a decision. It only takes the AI 20 minutes to complete the process.

UNU Inventor Hopes His AI Invention Will Be Used In Politics And Healthcare

UNU previously predicted the winners of the Superbowl and Oscar. Thus, this technology is very promising. Rosenberg recognized the potential of his invention and hopes that the platform will go beyond gambling into healthcare and politics.

"Politicians have conflicting values but not conflicting knowledge," Rosenberg said. "Forcing polarized groups into a swarm allows them to find the answer that most people are satisfied with. Our vision is to enable the power of group intelligence for everybody."

Rosenberg added that medical professionals could use the AI to make a more accurate diagnosis. This could also help voters select candidates and politicians.

Are you impressed with the AI's betting prowess? If given the chance, will you bet in a Derby using AI? Do you agree that this technology will be a great help in politics and healthcare? Share your thoughts in the comment section below.