Crowds wisdom

The future of prediction markets: how technology can enable the wisdom of crowds

Dates: February 22, 2016
Location: London, UK

In the wake of crowd-funding and crowd-sourcing comes crowd-wisdom. Given the complexity and difficulty of many of the challenges facing humanity, the development of systems for improved crowd-wisdom can be seen as a major priority.

Researchers have shown that, in the right circumstances, people working together to forecast future outcomes can produce far more accurate results than individuals, even when these individuals are recognised experts in their field. Sharing and debating the results with others can quickly eliminate bias and sharpen predictive reliability. This interaction allows predictive markets to live up to their full potential as aggregators of insight from diverse sources.