AI predictions are ‘one of the exciting use cases’ in Web3, says Theoriq CEO
11/05/2024 13:58Theoriq has launched the Prediction Collective, a suite of AI agents designed to predict outcomes on everything from market trends and political elections to sports events
Over the past few days, Theoriq launched the Prediction Collective, a suite of AI agents designed to forecast outcomes on everything from market trends and political elections to sports events.
The collective uses diverse data sources to deliver high-confidence forecasts, a feature in growing demand across Web3.
Ron Bodkin, CEO of Theoriq, told crypto.news that the platform meets an increasing need for data-backed insights, particularly as Web3 users engage more with prediction markets like Polymarket.
“Predictions are one of the exciting use cases for AI agents,” Bodkin explained. Theoriq has put together multiple data streams and open-source software to “make it super accessible for people to understand…different events and to get forecasts and predictions.”
Bodkin believes that, over time, AI will play a significant role in refining the prediction process, offering users more precise insights with a broader range of applications.
Specialized AI-agents
The Prediction Collective aims to help users understand and predict events, particularly during key moments like the U.S. election. It is live and free on Theoriq’s testnet, giving users a firsthand view of collaborative, AI-driven predictions.
The collective includes a suite of specialized AI agents, each providing targeted, real-time forecasts.
For example, the PC Router Agent directs user requests to the right agents; the Polymarket Info Agent gathers data from top prediction markets like Polymarket; the Prediction Market Planner Agent assesses trends and risks; and the Forecasting Agent analyzes online sources to predict event outcomes.
Additional agents provide insights on topics such as DAO governance, financial events, and investment strategies. Today, there are fifteen AI agents in the collective, with more on the way, according to Bodkin.
Liquidity in the predictions market
Currently, insights are drawn from Polymarket and general online sources, but Theoriq plans to expand data sources to include social media sentiment analysis and additional news platforms.
Liquidity in prediction markets remains a major challenge, especially on platforms like Polymarket, where manipulation has been observed. Limited resources and data often restrict participation. Theoriq’s collective aims to address these issues by providing greater liquidity, which could enhance objectivity.
“Liquidity in prediction markets has been an issue…even in as something as big as Polymarket, where you’ve got the US election… transparently being manipulated,” Bodkin told crypto.news. “The argument is that you don’t have nearly enough people with the resources and the data to participate intelligently. We believe that AI agents can dramatically lower the bar for people to have the information to participate intelligently… you will have way more liquidity by having agents now.”
Real-time analysis
The collective’s workflow is streamlined, allowing users to receive actionable predictions quickly. When a user enters a query like “Who will win the 76ers game tonight?” the system routes it to the appropriate agents.
These agents gather data, analyze relevant insights, and deliver a clear, probability-based answer. This process enables accurate, real-time predictions, even for complex topics, whereas other AI agents, such as ChatGPT, tend to take a more general approach using data from a single source.
The testnet on Theoriq is currently free; however, Bodkin anticipates introducing “premium agents” soon, with a small fee for Web3 services that involves burning some tokens to cover network costs.