Pico is an algorithm that quickly computes the CMB scalar, tensor and lensed power spectra, the matter transfer function and the WMAP 5 year likelihood. It is intended to accelerate parameter estimation codes; Pico can compute the CMB power spectrum and matter transfer function, as well as any computationally expensive likelihoods, in a few milliseconds. It is extremely fast and accurate over a large volume of parameter space and its accuracy can be improved by using a larger training set. More generally, Pico allows using massively parallel computing resources, including distributed computing projects such as Cosmology@Home, to speed up the slow steps in inherently sequential calculations.