Unveiling Hackonomics, Flatiron’s AI-Powered Budgeting Hackathon

Are you interested in learning about how software engineering, data science, product design, and cybersecurity can be combined to solve personal finance problems? Look no further, because Flatiron’s AI-powered budgeting hackathon—Hackonomics—is here to ignite your curiosity.

This post will guide you through our Hackonomics event and the problems its final projects aim to solve. Buckle up and get ready to learn how we’ll revolutionize personal finance with the power of AI.

Unveiling the Challenge

Picture this: a diverse cohort of recent Flatiron bootcamp graduates coming together on teams to tackle an issue that perplexes and frustrates a huge swath of the population—personal budgeting.

Hackonomics participants will be tasked with building a financial planning application named Money Magnet. What must Money Magnet do? Utilize AI to analyze spending patterns, income sources, and financial goals across family or individual bank accounts.

The goal? To provide personalized recommendations for optimizing budgets, identifying potential savings, and achieving financial goals through a dynamic platform that contains a user-friendly design with interactive dashboards, a personalized recommendation system to achieve budget goals, API integration of all financial accounts, data encryption to protect financial data, and more.

The Impact of AI in Personal Finance

Let’s dive a little deeper into what this entails. Integrating AI into personal finance isn’t just about creating fancy algorithms; it’s about transforming lives through the improvement of financial management. Imagine a single parent struggling to make ends meet, unsure of where their hard-earned money is going each month. With AI-powered budgeting, they can gain insights into their spending habits, receive tailored recommendations on how to save more effectively, and ultimately, regain control of their financial future. It’s about democratizing financial literacy and empowering individuals from all walks of life to make informed decisions about their money.

Crafting an Intuitive Technical Solution Through Collaboration

As the teams embark on this journey, the significance of Hackonomics becomes abundantly clear. It’s not just about building an advanced budgeting product. It’s about building a solution that has the power to vastly improve the financial health and wealth of many. By harnessing the collective talents of graduates from Flatiron School’s Cybersecurity, Data Science, Product Design, and Software Engineering bootcamps, Hackonomics has the opportunity to make a tangible impact on people’s lives.

Let’s now discuss the technical aspects of this endeavor. The platforms must be intuitive, user-friendly, and accessible to individuals with varying levels of financial literacy. They also need to be up and running with personalized suggestions in minutes, not hours, ensuring that anyone can easily navigate and understand their financial situation. 

Embracing the Challenge of Hackonomics

Let’s not lose sight of the bigger picture. Yes, the teams are participating to build a groundbreaking platform, but they’re also participating to inspire change. Change in the way we think about personal finance, change in the way we leverage technology for social good, and change in the way we empower individuals to take control of their financial destinies.

For those participating in Hackonomics, it’s not just about building a cool project. It’s about honing skills, showcasing talents, and positioning themselves for future opportunities. As participants develop their AI-powered budgeting platforms, they’ll demonstrate technical prowess, creativity, collaborative skills, and problem-solving abilities. In the end, they’ll enhance their portfolios with AI projects, bettering their chances of standing out to potential employers. By seizing this opportunity, they’ll not only revolutionize personal finance but also propel their careers forward.

Attend the Hackonomics Project Showcase and Awards Ceremony Online

Participation in Hackonomics is exclusively for Flatiron graduates. Participants will build their projects from March 8 through March 25. Winners will be announced during our project showcase and awards ceremony closing event on March 28.

If you’re interested in attending the showcase and ceremony on March 28, RSVP for free through our Eventbrite page Hackonomics 2024 Showcase and Awards Ceremony. This is a great opportunity for prospective students to see the types of projects they can work on should they decide to apply to one of Flatiron’s bootcamp programs.

Disclaimer: The information in this blog is current as of March 8, 2024. Current policies, offerings, procedures, and programs may differ.