Algorithmia is an Open Marketplace for Computer Algorithms
Alyson Wyers — April 1, 2015 — Tech
References: algorithmia & springwise
This open marketplace uses the power of the crowd to get algorithms to companies that can put them to use. Algorithmia is a live, crowdsourced database of algorithms. This helps the ground-breaking work developers do go beyond research or computer science departments and academic journals to app developers and companies who can make use of them for bigger things.
Both an open marketplace and an online community, Algorithmia makes algorithms more accessible. So far, there are over 800 algorithms in the database. Developers can use the site to host with work and have the option of making their work available for free or for a fee. Other developers or companies can search the database via the Bounty system.
Both an open marketplace and an online community, Algorithmia makes algorithms more accessible. So far, there are over 800 algorithms in the database. Developers can use the site to host with work and have the option of making their work available for free or for a fee. Other developers or companies can search the database via the Bounty system.
Trend Themes
1. Crowdsourced Algorithm Libraries - Companies and developers can create specialized algorithm libraries for specific industries and tasks which other developers and companies can access and use.
2. Algorithm Bounty System - A bounty system can provide motivation and rewards for developers to create useful algorithms, inspiring new and innovative ideas.
3. Algorithm Marketplace Expansion - As more algorithms are added to the database, there is potential for Algorithmia to expand into new industries and offer specialized services based on unique algorithm needs.
Industry Implications
1. Software Development - Algorithmia can help software developers create apps and programs with a wider range of functionality than before, without needing to develop all the code from scratch.
2. Artificial Intelligence - Algorithmia has the potential to make AI algorithms more accessible and usable, which could help to democratize the technology and increase its adoption across industries.
3. Finance - Developers and companies can use Algorithmia to create financial algorithms for tasks such as risk management, trading strategies, and fraud detection.
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