Isn't Numerai fascinating? I've listened to a few podcasts with the creator Richard Craib and have been grasped by the concept seems quite unique in that it combines blockchain with AI.
So, this is my take - so happy to be corrected.
It's essentially commoditising machine learning over provided proprietary data that's encrypted. Datasets are regularly made available and end nodes submit their results/predictions and if they are found to be better than random get a reward. The consolidated results go through another level of processing/machine learning and the outputs are used to manage a hedge fund (tied to traditional stocks).
Such an interesting dichotomy. On the surface it may seem its aim is to service and grow the investments for the corporate elite - which really it is - the hedge fund is exclusive and has massive barriers to entry.
But at the same time is enabling the transfer of value from this otherwise exclusive arrangement to..well..a new and growing ecosystem of players that would never have been involved.
With at least 20000 users (whether all participate or not) and indirect backing against this ai-decision-based-hedge-fund it looks like Numerai has quite a strong foundation to build upon.