Timely assessment of current conditions is essential especially for small, open economies such as Singapore, where external shocks transmit rapidly to domestic activity. We develop a real-time nowcasting framework for quarterly GDP growth using a high-dimensional panel of approximately 70 indicators, encompassing economic and financial indicators over 1990Q1-2023Q2. The analysis covers penalized regressions, dimensionality-reduction methods, ensemble learning algorithms, and neural architectures, benchmarked against a Random Walk, an AR(3), and a Dynamic Factor Model. The pipeline preserves temporal ordering through an expanding-window walk-forward design with Bayesian hyperparameter optimization, and uses moving block-bootstrap procedures both to construct prediction intervals and to obtain confidence bands for feature-importance measures. It adopts model-specific and XAI-based explainability tools. A Model Confidence Set procedure identifies statistically superior learners, which are then combined through simple, weighted, and exponentially weighted schemes; the resulting time-varying weights provide an interpretable representation of model contributions. Predictive ability is assessed via Giacomini-White tests. Empirical results show that penalized regressions, dimensionality-reduction models, and GRU networks consistently outperform all benchmarks, with RMSFE reductions of roughly 40-60%; aggregation delivers further gains. Feature-attribution methods highlight industrial production, external trade, and labor-market indicators as dominant drivers of Singapore's short-run growth dynamics.

Batch processes show several sources of variability, from raw materials' properties to initial and evolving conditions that change during the different events in the manufacturing process. In this chapter, we will illustrate with an industrial example how to use machine learning to reduce this apparent excess of data while maintaining the relevant information for process engineers. Two common use cases will be presented: 1) AutoML analysis to quickly find correlations in batch process data, and 2) trajectory analysis to monitor and identify anomalous batches leading to process control improvements.

The resolution and calibration of pure spectra of minority components in measurements of chemical mixtures without prior knowledge of the mixture is a challenging problem. In this work, a combination of band target entropy minimization (BTEM) and target partial least squares (T-PLS) was used to obtain estimates for single pure component spectra and to calibrate those estimates in a true, one-at-a-time fashion. This approach allows for minor components to be targeted and their relative amounts estimated in the presence of other varying components in spectral data. The use of T-PLS estimation is an improvement to the BTEM method because it overcomes the need to identify all of the pure components prior to estimation. Estimated amounts from this combination were found to be similar to those obtained from a standard method, multivariate curve resolution-alternating least squares (MCR-ALS), on a simple, three component mixture dataset. Studies from two experimental datasets demonstrate where the combination of BTEM and T-PLS could model the pure component spectra and obtain concentration profiles of minor components but MCR-ALS could not.

We present an algorithm, AROFAC2, which detects the (CP-)rank of a degree 3 tensor and calculates its factorization into rank-one components. We provide generative conditions for the algorithm to work and demonstrate on both synthetic and real world data that AROFAC2 is a potentially outperforming alternative to the gold standard PARAFAC over which it has the advantages that it can intrinsically detect the true rank, avoids spurious components, and is stable with respect to outliers and non-Gaussian noise.