Merchant Memento
A crowdsourced database and API that deciphers cryptic merchant descriptions on bank statements, helping users and financial apps identify and understand their spending.
ShrikePay: Temporal Payment Routing
A payment system that optimizes transaction routing based on predicted network congestion and security vulnerabilities, using AI to dynamically adjust paths like the Time Tombs in Hyperion.
ShrikePay draws inspiration from the unpredictable time flows surrounding the Time Tombs in Dan Simmons' Hyperion and the AI-driven systems in 2001: A Space Odyssey. The concept is to build a payment routing system that uses AI to predict and avoid network congestion, security vulnerabilities, and high transaction fees. Unlike traditional payment gateways that follow static paths, ShrikePay analyzes real-time network data, historical transaction patterns, and potential threat vectors to dynamically route payments through the most efficient and secure paths.
The story: Imagine a world where every payment is a race against time and potential threats. ShrikePay acts as a guardian, navigating the chaotic landscape of the internet to ensure your transactions reach their destination safely and swiftly. Like the Shrike protecting its thorns, ShrikePay protects your finances from the dangers lurking in the digital realm.
How it works:
1. Data Collection: Scrape and aggregate data on payment gateway performance (speed, fees, success rates), network latency, security vulnerability reports (similar to the AI Workflow for Companies scraper project, but focused on payment system data), and real-time threat intelligence feeds.
2. AI Model Training: Train a machine learning model to predict the optimal payment routing path based on the collected data. This could be a reinforcement learning model that learns from past transactions or a supervised learning model that predicts success rates for different paths.
3. Dynamic Routing Engine: Develop a routing engine that uses the AI model's predictions to dynamically route payments through the most efficient and secure paths. This engine would constantly monitor network conditions and adjust routing in real-time.
4. API Integration: Provide an API that businesses can easily integrate into their existing payment systems.
5. Niche Focus: Initially focus on specific niches like cryptocurrency payments or international transactions, where routing optimization can provide significant benefits.
The low-cost aspect comes from leveraging open-source AI libraries and cloud computing resources. The high earning potential lies in charging a small fee per transaction based on the savings and security improvements ShrikePay provides compared to traditional payment gateways. The implementation can start with focusing on a single payment rail and expanding it to support more as the model matures.
The story: Imagine a world where every payment is a race against time and potential threats. ShrikePay acts as a guardian, navigating the chaotic landscape of the internet to ensure your transactions reach their destination safely and swiftly. Like the Shrike protecting its thorns, ShrikePay protects your finances from the dangers lurking in the digital realm.
How it works:
1. Data Collection: Scrape and aggregate data on payment gateway performance (speed, fees, success rates), network latency, security vulnerability reports (similar to the AI Workflow for Companies scraper project, but focused on payment system data), and real-time threat intelligence feeds.
2. AI Model Training: Train a machine learning model to predict the optimal payment routing path based on the collected data. This could be a reinforcement learning model that learns from past transactions or a supervised learning model that predicts success rates for different paths.
3. Dynamic Routing Engine: Develop a routing engine that uses the AI model's predictions to dynamically route payments through the most efficient and secure paths. This engine would constantly monitor network conditions and adjust routing in real-time.
4. API Integration: Provide an API that businesses can easily integrate into their existing payment systems.
5. Niche Focus: Initially focus on specific niches like cryptocurrency payments or international transactions, where routing optimization can provide significant benefits.
The low-cost aspect comes from leveraging open-source AI libraries and cloud computing resources. The high earning potential lies in charging a small fee per transaction based on the savings and security improvements ShrikePay provides compared to traditional payment gateways. The implementation can start with focusing on a single payment rail and expanding it to support more as the model matures.