Updated (5): Big Data Summit: how technology today can affect tomorrow's future - The Malta Independent

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Charles Radclyffe, a serial entrepreneur who has focused his career on solving tough technology challenges for some of the world's largest organisations, spoke about data philosophy and mentioned how technology is slowly changing the world and could cause a wealth distribution imbalance. The Big Data Summit (Malta) is the first event of its kind to be held in Malta aimed at bringing together an international group of business leaders, policy makers and technology leaders to discuss the future of the global economy and how big data and advanced analytics is already transforming the business world as we know it. This major event brings together thought leaders from some of the key players in Big Data today including Tableau, Qlik, Microsoft, Zendesk and Salesforce as well as accomplished independent international speakers from a variety of industries, including professional services, IT, Telco, iGaming, Academia as well as areas where some of the major breakthroughs are being made like Machine Learning and Artificial Intelligence. Mr Radclyffe spoke about data philosophy and data ethics. He said that the consequence of what we are doing through technology today will have the furthest reaching impact to date.


Big data couldn't get the World Cup results right

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Goldman Sachs' statistical model for the World Cup sounded impressive: The investment bank mined data about the teams and individual players, used artificial intelligence to predict the factors that might affect game scores and simulated 1 million possible evolutions of the tournament. The model was updated as the games unfolded, and it was wrong again and again. It certainly didn't predict the final between France and Croatia. The failure to accurately predict the outcome of soccer games is a good opportunity to laugh at the hubris of elite bankers, who use similar complex models for investment decisions. Tom Pair, founder of the Upper Left Opportunities Fund, a hedge fund, tweeted recently: "Of course, past data don't always predict the future; Goldman Sachs never tells clients to make decisions solely on the basis of its models' findings.


Big data couldn't get the World Cup results right

#artificialintelligence

Goldman Sachs' statistical model for the World Cup sounded impressive: The investment bank mined data about the teams and individual players, used artificial intelligence to predict the factors that might affect game scores and simulated 1 million possible evolutions of the tournament. The model was updated as the games unfolded, and it was wrong again and again. It certainly didn't predict the final between France and Croatia. The failure to accurately predict the outcome of soccer games is a good opportunity to laugh at the hubris of elite bankers, who use similar complex models for investment decisions. Tom Pair, founder of the Upper Left Opportunities Fund, a hedge fund, tweeted recently: "Of course, past data don't always predict the future; Goldman Sachs never tells clients to make decisions solely on the basis of its models' findings.


£2.3m Announced to Launch Welsh Data Science Graduate Programme

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This year's FIFA World Cup could be the first decided by data science, as a new ruling allows data scientists with hand-held technology to sit on the bench and feed real time analysis to coaches – and now a new programme harnessing this trend is offering graduates the chance to build a career in a sector set to shape tomorrow's economy. The new Welsh Data Science Graduate Programme will offer graduates paid placements with global employers, a fully funded MSc and expert learning from academic partner Office for National Statistics. This October, 25 STEM graduates will start the programme, part funded by the European Social Fund, and developed by the Welsh Contact Centre Forum and employers to satisfy a growing demand in expert professionals who can work effectively and efficiently with handling sizeable data. The scheme follows the Welsh Financial Services Graduate Programme, which has seen 105 graduates trained to be job-ready to start careers in that sector in Wales and boasts a 95% employment success rate. Data science is now a tangible employment prospect for thousands of the world's young graduates and Wales is making waves in securing its place in the data science boom.


Boston Machine Learning Firm DataRobot Gets $100M To Automate Data Science

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Boston startup DataRobot wrapped up a new $100 million funding round, injecting more cash into what was already one of the region's biggest bets on machine learning and artificial intelligence. Palo Alto, CA-based venture firms Meritech and Sapphire Ventures led the Series D investment, with DFJ Growth, New Enterprise Associates, and IA Ventures also participating in the deal, DataRobot said in an e-mail to Xconomy. DataRobot said the additional backing puts the company's total venture funding at $225 million. Started in 2012, the company aims to automate much of the work of data scientists and make building predictive models easier for business users. Applications range from the expected--banks running risk algorithms to determine whether to issue a loan or a hospital determining risk for diabetes or heart disease--to the surprising, like helping the New York Mets choose draft picks.