With talk of job losses and even taking over the world, artificial intelligence (AI) may scare some people, but one company is working on an app that could make you rich.
German-based Neokami is developing a platform that uses AI to predict the price movement of stocks and commodities over different time periods, the start-up told CNBC.
"Right now people are using technical indicators to predict stock movements, we would be using the same algorithms used by the world's top tech companies for things like image recognition, (and) computer learning but apply that to stock markets," Ozel Christo, founder and CEO of Neokami, told CNBC by phone.
"We can analyse millions of variables within seconds and create a customized predictive model for any stock."
Neokami's platform will be able to pull in traditional data such as analysts' notes or historical movement of a stock as well as analyze variables like sentiment on Twitter or across lots of news articles online about a company. Christo claimed the app would be 75 to 95 percent accurate depending on the time frame of the stock price movement a user wanted to see.