XTX Markets launching $10 million 'Artificial Intelligence Mathematical Olympiad Prize'

LONDON, Nov. 27, 2023 /PRNewswire/ -- XTX Markets is launching the Artificial Intelligence Mathematical Olympiad Prize ('AI-MO Prize'), a new $10mn challenge fund designed to spur the creation of a publicly-shared AI model capable of winning a gold medal in the International Mathematical Olympiad (IMO).

A grand prize of $5mn will be awarded to the first publicly-shared AI model to enter an AI-MO approved competition and perform at a standard equivalent to a gold medal in the IMO.

There will also be a series of progress prizes, totalling up to $5mn, for publicly-shared AI models that achieve key milestones towards the grand prize.

The IMO is a prestigious high school maths competition. A gold medal is both a benchmark for exceptional performance and a predictor of future achievement. Indeed, half of all Fields Medallists participated in the IMO in their youth.

Building on these traditions, the AI-MO Prize will accelerate progress beyond large language models like ChatGPT and develop new AI models that can reason mathematically. As such, the AI-MO Prize could represent a new Turing Test.

Gregor Dolinar, President, International Mathematical Olympiad, commented:

"Using hard mathematical problems as a benchmark to determine if AI can match the highest cognitive functions of human beings is a wonderful idea. 

Every year, more than 600 of the best students from more than 110 countries are challenged with six extremely difficult IMO problems, typically only one or two students solve all six IMO problems in the allotted nine hours.

I am sure that many people will be following the AI-MO Prize with great excitement, to see when, in the future, AI will match the world's brightest young minds."

Terence Tao, UCLA, Fields Medallist, commented:

"Despite recent advances, using AI to solve, or at least assist with solving, advanced mathematical problems remains an incredibly complicated and multifaceted challenge. It will be important to experiment with multiple approaches to this goal, and to benchmark the performance of each of them.

The AI-MO Prize promises to provide at least one such set of benchmarks which will help compare different AI problem solving strategies at a technical level, in a manner that will be accessible and appealing to the broader public."

The prizes will be designed by an AI-MO Advisory Committee (to be appointed), including mathematicians, AI and machine learning experts, and experienced Olympiad problem-setters.

The first AI-MO approved competitions will open to participants in early 2024. There will be a presentation of progress at the 65th IMO which will be held in Bath, England in July 2024.

Further details as to the competition rules and entry criteria will be released in due course.

Geoff Smith, Former President, International Mathematical Olympiad and AI-MO Prize Advisory Committee Member, commented:

"The ability of modern AI systems to create a facsimile of a human when engaging in a written exchange is remarkable. However, this works best when there is a large corpus of relevant material already placed on the internet by people. 

It will be a far more demanding task to mimic a creative mathematician as they engage in abstract reasoning. The global IMO community will be delighted to be involved in supporting this competition, as we seek to measure AI systems against the best young mathematical minds."

Simon Coyle, Head of Philanthropy, XTX Markets, commented:

"XTX Markets is excited to be launching the AI-MO Prize to spur the development of AI models capable of mathematical reasoning. We look forward to working with mathematicians, scientists and technologists to develop the prizes, and to seeing how AI models compare against exceptional high-school mathematicians."

For more information and updates on the AI-MO Prize visit: https://aimoprize.com/

About XTX Markets:

XTX Markets is a leading financial technology firm which partners with counterparties, exchanges and e-trading venues globally to provide liquidity in the Equity, FX, Fixed Income and Commodity markets. XTX has over 200 employees based in London, Paris, New York, Mumbai, Yerevan and Singapore. XTX is consistently a top 5 liquidity provider globally in FX (Euromoney 2018-present) and is also the largest European equities (systematic internaliser) liquidity provider (Rosenblatt FY: 2020-2023).

The company's corporate philanthropy focuses on STEM education and maximum impact giving (alongside an employee matching programme). Since 2017, XTX has donated over £100mn to charities and good causes, establishing it as a major donor in the UK and globally.

In a changing world XTX Markets is at the forefront of making financial markets fairer and more efficient for all.

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