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Bitcoin Just Saw A Key Technical Breakout: Big Reaction From Bulls Imminent – newsBTC

Bitcoin reversed after a sharp dip towards the $8,400 support area against the US Dollar. BTC price is now signaling more upsides above $8,800 and $9,000 in the coming sessions.

Recently, there was a sharp dip in bitcoin from the $8,750 area against the US Dollar. BTC price spiked below a couple of important supports, but it bounced back above $8,500.

As a result, there was a strong bullish engulfing pattern formed on the hourly chart and the price settled above the $8,500 support area. The recent increase was technically significant, suggesting the bulls rejected the $8,500 support.

Moreover, there was a break above a key declining channel with resistance near $8,665 on the hourly chart of the BTC/USD pair. Bitcoin price even climbed above the $8,700 level.

Bitcoin Price

It is currently testing the 100 hourly simple moving average and struggling to gain strength above $8,780-$8,800. If there is a clear break above the $8,800 resistance and the 100 hourly SMA, bitcoin is likely to accelerate higher.

In the mentioned bullish case, an initial target could be $9,000. A successful follow through above the $9,000 resistance might start a strong rise towards the $9,200 and $9,300 resistance levels.

Any further gains may perhaps start a larger upward move above towards the $10,000 and $11,000 levels in the coming days.

If BTC fails again to clear the $8,800 resistance and the 100 hourly SMA, it could correct a few points. An initial support is near the $8,670 level or the channel resistance area.

The first key support on the downside is near the $8,560 level, below which bitcoin is likely to retest the main $8,500 support area. Only a daily close below $8,500 might negate the current bullish view.

Technical indicators:

Hourly MACD The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) The RSI for BTC/USD is currently well above the 50 level, with positive signs.

Major Support Levels $8,560 followed by $8,500.

Major Resistance Levels $8,800, $8,810 and $9,000.

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Bitcoin Just Saw A Key Technical Breakout: Big Reaction From Bulls Imminent - newsBTC

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Bitcoin Is Plunging, But Its Too Early To Say Bulls Have Given Up – newsBTC

Bitcoin failed to extend gains above $9,200 and started a downside correction against the US Dollar. BTC price tested the $8,500 support and it could bounce back.

Yesterday, we discussed a crucial breakout pattern in bitcoin above $8,500 on the daily chart against the US Dollar. BTC price extended gains above $9,000, but it struggled to clear the main $9,200 and $9,300 resistance levels (as pointed out yesterday).

A new 2020 high was formed near $9,186 before the price started a sharp decline. There was a break below the $9,000 and $8,800 support levels. Besides, there was a break below a major ascending channel with support near $8,830 on the hourly chart of the BTC/USD pair.

Bitcoin Price

It opened the doors for more losses below the $8,800 support and the 100 hourly simple moving average. Finally, bitcoin tested the key $8,500 support area, where the bulls took a stand.

A low is formed near $8,473 and the price is currently recovering. It traded above the 23.6% Fib retracement level of the recent slide from the $9,186 high to $8,473 low.

On the downside, the main uptrend support is near the $8,500 level. If there is a downside break below the $8,500 support, the price could extend its correction towards the $8,000 pivot level. Any further losses below $8,000 might start a downtrend in the near term.

If BTC price stays above the $8,500 support, it is likely to start a fresh increase. The first key resistance is near the $8,800 area and the 100 hourly simple moving average.

Additionally, the 50% Fib retracement level of the recent slide from the $9,186 high to $8,473 low is also near the $8,830 level. Therefore, bitcoin must surpass the $8,880 area to resume is uptrend towards $9,200 and $9,500 in the coming days.

Technical indicators:

Hourly MACD The MACD is losing momentum in the bearish zone and turning bullish.

Hourly RSI (Relative Strength Index) The RSI for BTC/USD is currently near 40 and struggling to rise towards 50.

Major Support Levels $8,500 followed by $8,000.

Major Resistance Levels $8,800, $8,830 and $9,200.

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Bitcoin Is Plunging, But Its Too Early To Say Bulls Have Given Up - newsBTC

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Is This Why Bitcoin SV Climbed Another 20% In the Last 24 Hours? – newsBTC

Although almost the entire cryptocurrency industry started 2020 with big price increases, one has stood out above the pack. Bitcoin SV (BSV) kicked off the year at below $100 and now trades for more than $300.

Whereas most digital currencies have traded sideways over the last 24 hours, Bitcoin SV is gaining in market capitalisation once again. However, at least one market analyst believes the dramatic price pumps are anything but organic.

Whether you like it or not, BSV price has been pumping hard this year. The digital currency, championed by Satoshi Nakamoto claimant Craig Wright, has gained more than 300 percent in the last 20 days. As NewsBTC reported, it even briefly flipped rival Bitcoin fork Bitcoin Cash (BCH).

Since last weeks industry wide price pumps, the markets have somewhat quietened down. However, Bitcoin SV is still moving upwards. Whereas most digital assets have seen neither gains nor losses over the last 24 hours, with around a 20 percent increase, BSV is still flying.

Following the initial pumps, NewsBTC reported on various theories explaining the sudden movement. Different analysts have suggested that developments in Craig Wrights legal battle with the estate of his former business partner Dave Kleiman, promises of upcoming protocol upgrades, a growing BSV community in China, and poor market liquidity all might be behind the unusual price action.

Adding their own theory to the mix is cryptocurrency entrepreneur and Chief Technical Officer of CoinText, Vin Armani. In the following Twitter thread, Armani accuses Calvin Ayre, one of the biggest BSV proponents and, apparently, one of its only miners, of operating a sophisticated wash trading scheme.

Armani alleges that the falling through of a deal to sell mining equipment to Squire Mining LTD. last year left Ayre with a lot of SHA-256 miners. The entrepreneur claims that since Ayre is the most prolific miner of Bitcoin SV, using the equipment on the network would not result in the entrepreneur receiving more BSV.

Instead of mining BSV, Armani claims that Ayre deployed the hardware on the BCH network. He would sell the Bitcoin Cash generated for US Dollar Tether (USDT) and use this to wash trade Bitcoin SV price up following an uptick in positive momentum. Supposed developments in the Kleiman case, coupled with Ayre himself aggressively pumping BSV with cryptic hints towards great things this year, may have been engineered for this very purpose. The fact that earlier exchange delistings of Bitcoin SV means it largely trades on small, obscure exchanges, only makes the scheme more effective.

Armani believes this elaborate plan, which he calls pretty genius, is behind the sudden price pumps in Bitcoin SV. Whats more, the CTO adds that Ayre will be able to continue pumping the price in such a manner to keep it close to the market capitalisation of Bitcoin Cash.

Its telling that although Bitcoin SV did exceed BCH in terms of market capitalisation, it has only done so for brief periods. Armanis theory only allows Ayre risk free pumping of Bitcoin SV up to market capitalisation parity with Bitcoin Cash. To push the price higher requires extra cash. It may be telling that, despite todays pump, the price remains below that of its rival Bitcoin fork.

Related Reading: Bitcoin Signal That Preceded 288% Rally About to Flash, and Its Huge for Bulls

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Is This Why Bitcoin SV Climbed Another 20% In the Last 24 Hours? - newsBTC

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How Bitcoin’s On-chain Activity and the Iran Crisis Correlate? – Bitcoinist

The dust has settled in the Middle East for now as the political posturing takes a back seat. Bitcoin prices have also settled a little from their roller-coaster ride over the past fortnight, but how closely related were the two events?

Bitcoin has spent the past day or so consolidating at the $8,600 level after a minor pullback on Sunday. Its epic 32% pump this month has been largely attributed to geopolitical tension in the Middle East as the safe haven narrative intensified.

On-chain analysis enables researchers to delve deeper into what has actually happened for the first three weeks of 2020.

The CryptoQuant Team has released a research paper taking a deep dive into the analysis of bitcoin markets and trader behavior during recent events.

Looking at volume alone cannot determine whether people were purely day trading the asset more or seeking to hold it as a store of value during times of geopolitical adversity. Exchange outflows are used to ascertain whether people are intending to hodl for more than just a short period of time.

High exchange outflows typically coincide with price bottoms as supply dries up. Looking at this metric during the Iran crisis reveals whether BTC was viewed as a safe haven and how quickly investors reacted.

The team looked at the whole picture first which began on January 2nd, reached a peak the 7th, and ended with Trumps announcement the following day. Outflows prior to this were at a two month low of around 12k with bitcoin priced just over $7k at the time.

Following the US strike exchange outflow climbed to 37k on January 3rd, dropped back to 18k on the 5th, and then surged again to peak at 49k on the 8th after Irans retaliatory strike. Bitcoin outflows increased by four times over the course of the crisis.

Price movements were also highly correlated with movements of traditional safe have assets such as gold and oil. The research continued to break down exchange outflows and price movement for individual events during the weeklong encounter.

The last large outflow was when US President Trump announced the de-escalation of conflict on January 8. Subsequent measurements were all much smaller with no outflow over 800.

The report concludes that there was a clear change in on-chain behavior during the crisis but cannot determine whether it was pure speculation or a greater desire to hodl.

As tensions rose, we see peoples desire to hold the asset increased. But as soon as the conflict was resolved, this demand dropped, leading to a downturn in price.

The researchers added that a one-time event cannot be conclusive, but it does provide an interesting window into what could be a shifting perception of Bitcoin.

Is bitcoin really a go-to asset in times of adversity? Add your comments below.

Image via Shutterstock

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Crypto market overview: Bitcoin (BTC) bulls lose initiative; altcoins drive the market higher – FXStreet

Cryptocurrency market is dominated by altcoins. Most major coins are in a green zone with Bitcoin SV and Etherum Classic among the growth leaders. The cryptocurrency market capitalization marginally increased to $238 billion, while an average daily trading volume reduced to $94 billion. Bitcoin's market dominance settled at 65.8%.

The largest cryptocurrency by market capitalization has been hovering around $8,600 area since Monday as themarket cannot decide where to go next. The coin has been locked in a tight range limited by SMA100 1-hour at $8,700 and the lower line of 1-hour Bollinger Band on approach to $8,600.

Ethereum hit the low of $161.11 on January 20 only to recover back to $168.04 by the time of writing. The upside move was in line with general market sentiments. ETH/USD has gained about 1% since the beginning of the day. From the short-term perspective, the coin is moving within a bullish trend amid shrinking volatility. The nearest support is created at $165.00 by a combination of SMA50 1-hour and the lower line of 1-hour Bollinger Band

Ripple retreated to $0.2385 after an attempt to settle above $0.2400 during early Asian hours. XRRP/USD has lost over 2.5% since the beginning of Tuesday, moving in sync with the market. The short-term trend is bullish.

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Crypto market overview: Bitcoin (BTC) bulls lose initiative; altcoins drive the market higher - FXStreet

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Report: Bitcoin outperforms banks in settlement times and reliability – Micky News

According to the latest report from LearnBonds, the Bitcoin blockchain got 20 percent faster in the first month of 2020 compared to December 2019, dropping from 10.36 minutes to 8.27 minutes.

The drop in execution time comes after almost six months of continual rise, with the highest Bitcoin transaction time recorded in November 2019 at 11.077 minutes.

Bitcoin isnt the fastest cryptocurrency on the market, but compared to settlement times of traditional banks, it is light years ahead.

Even Bitcoins longest block settlement time in 2019 highlights just how redundant bank transfers are becoming. With cross border transactions taking up to five days at most global banks, not counting weekends or bank holidays, an 11-minute block time seems almost incredible.

When it comes to other high market-cap cryptocurrencies, the difference becomes even greater.

Ripples XRP has the absolute lowest transaction time out of all the cryptocurrencies, hovering between 0.04 and 0.36 seconds in 2019. According to LearnBonds, that means its 99.62 percent faster than Bitcoin.

Not only is Bitcoin faster, but its also more stable and reliable than most global banks

Following the big crypto crash of 2017, Bitcoin has been described as everything but stable.

However, data has shown that not only has the Bitcoin network been one of the least volatile ones in the crypto industry, but it also outperformed almost every major bank in the world.

Data from the website Bitcoinuptime.com has shown that the Bitcoin network has been functional for 99.98 percent of the time since its inception on Jan. 3, 2009.

The fraction of a percentage of Bitcoins downtime was caused by double-spending events that caused the chain to fork.

The first time the Bitcoin network was down was in 2010 when it was closed for just under 8 and a half hours. It went down again in 2013 for 6 hours and 20 minutes.

Considering the fact that the Bitcoin network and the entire crypto industry was much smaller at the time, the events caused no significant consequences.

That, however, cant be said for banks.

Last year, several major global banks experienced significant downtime, causing huge financial and reputational damage.

In August 2019, BBC reported that the major banks in the U.K. typically suffer more than 10 outages a month. Barclays had 33 outage incidents in 12 months, while NatWest and Lloyds Bank had 25 and 23 outages, respectively.

RBS and Santander went down 22 and 21 times during that time, respectively.

Around the same time, the U.K. Financial Conduct Authority found that there was a 138 percent increase in technology outages in 2018.

Bank of America, the eighth largest bank in the world, experienced a similar problem in October last year when almost 10,000 of its customers were unable to log into their accounts or access ATMs.

The latest reports of bank downtime came from Nigeria, where customers of the Guaranty Trust Bank (GT Bank) reported being unable to move their funds through the banks mobile app. The outage reportedly caused businesses to suffer.

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Is Bitcoin the Answer to Trump’s ‘Generosity’ Towards Banks? – Bitcoinist

Could Bitcoin mend a system where President Trump is being extra generous toward banks through tax cuts?

US bankers have been laughing all the way to the bank last year, quite literally. In the best year for any bank in the history of the USA, JP Morgan announced $36.4 billion in profits during the past 12 months.

That is roughly twice the total market capitalization of Ethereum.

The bank is now making twice as much as it did before the banking crisis ten years ago and national debts are still escalating.

According to Bloomberg, the top six banks combined made an astounding $120 billion in profits last year. That is almost as much as bitcoins entire market cap and 20 times more than that of Bitcoin Cash.

US President Donald Trump has given banks a combined $32 billion in tax cuts enough to end world hunger for a year.

Bitcoinist reported on the wealth gap yesterday stating that the 2,153 wealthiest billionaires, many of whom are bankers, have more wealth than 4.6 billion people combined.

All of this raises a very pertinent question that what exactly do banks give back to the people?

Of course, there is a $30 charge for going one penny into overdraft, $10 for a stock transaction, next to negative interest for savings accounts and 20% interest rates for credit cards.

Add to that the massive fees on foreign exchange services, and an estimated $400,000 paid back in total over the lifetime of a mortgage for $200,000 borrowed and it is clear who the thieves are in this situation.

With the global national debt exceeding $250 trillion these profiteering banks are adding to it by printing more money to justify their existence. The US and China alone have accounted for 60% of the increase in global debt in recent years led by a surge in borrowing.

No matter what politicians say, this is totally unsustainable and the increasing wealth gap will eventually lead to a global economic meltdown and revolution.

A huge paradigm shift is needed and this will spur the great wealth transfer in which millennials will inherit the wealth from the richest generation in history, the boomers.

An estimated $68 trillion will be passed down from boomers over the next 30 years and millennials are already distrustful of banks following the fallout of the 2008 financial crisis.

This means that there will be massive investment in crypto and bitcoin. DeFi is also likely to play a much larger role in the new financial world as it does not entail billionaire bankers enriching themselves off peoples monetary misery.

Will bitcoin solve the banking crisis? Add your comments below.

Images via Shutterstock, Twitter: @Public_Citizen

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Uncover the Possibilities of AI and Machine Learning With This Bundle – Interesting Engineering

If you want to be competitive in an increasingly data-driven world, you need to have at least a baseline understanding of AI and machine learningthe driving forces behind some of todays most important technologies.

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This is a promotional article about one of Interesting Engineering's partners. By shopping with us, you not only get the materials you need, but youre also supporting our website.

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Five Reasons to Go to Machine Learning Week 2020 – Machine Learning Times – machine learning & data science news – The Predictive Analytics Times

When deciding on a machine learning conference, why go to Machine Learning Week 2020? This five-conference event May 31 June 4, 2020 at Caesars Palace, Las Vegas delivers brand-name, cross-industry, vendor-neutral case studies purely on machine learnings commercial deployment, and the hottest topics and techniques. In this video, Predictive Analytics World Founder Eric Siegel spills on the details and lists five reasons this is the most valuable machine learning event to attend this year.

Note: This article is based on the transcript of a special episode of The Dr. Data Show click here to view.

In this article, I give five reasons that Machine Learning Week May 31 June 4, 2020 at Caesars Palace, Las Vegas is the most valuable machine learning event to attend this year. MLW is the largest annual five-conference blow-out part of the Predictive Analytics World conference series, of which I am the founder.

First, some background info. Your business needs machine learning to thrive and even just survive. You need it to compete, grow, improve, and optimize. Your team needs it, your boss demands it, and your career loves machine learning.

And so we bring you Predictive Analytics World, the leading cross-vendor conference series covering the commercial deployment of machine learning. By design, PAW is where to meet the whos who and keep up on the latest techniques.

This June in Vegas, Machine Learning Week brings together five different industry-focused events: PAW Business, PAW Financial, PAW Industry 4.0, PAW Healthcare, and Deep Learning World. This is five simultaneous two-day conferences all happening alongside one another at Caesars Palace in Vegas. Plus, a diverse range of full-day training workshops, which take place in the days just before and after.

Machine Learning Week delivers brand-name, cross-industry, vendor-neutral case studies purely on machine learning deployment, and the hottest topics and techniques.

This mega event covers all the bases for both senior-level expert practitioners as well as newcomers, project leaders, and executives. Depending on the topic, sessions and workshops are either demarcated as the Expert/practitioner level, or for All audiences. So, you can bring your team, your supervisor, and even the line-of-business managers you work with on model deployment. About 60-70% of attendees are on the hands-on practitioner side, but, as you know, successful machine learning deployment requires deep collaboration between both sides of the equation.

PAW and Deep Learning World also takes place in Germany, and Data Driven Government takes place in Washington DC but this article is about Machine Learning Week, so see predictiveanalyticsworld.com for details about the others.

Here are the five reasons to go.

Five Reasons to Go to Machine Learning Week June 2020 in Vegas

1) Brand-name case studies

Number one, youll access brand-name case studies. At PAW, youll hear directly from the horses mouth precisely how Fortune 500 analytics competitors and other companies of interest deploy machine learning and the kind of business results they achieve. More than most events, we pack the agenda as densely as possible with named case studies. Each day features a ton of leading in-house expert practitioners who get things done in the trenches at these enterprises and come to PAW to spill on the inside scoop. In addition, a smaller portion of the program features rock star consultants, who often present on work theyve done for one of their notable clients.

2) Cross-industry coverage

Number two, youll benefit from cross-industry coverage. As I mentioned, Machine Learning Week features these five industry-focused events. This amounts to a total of eight parallel tracks of sessions.

Bringing these all together at once fosters unique cross-industry sharing, and achieves a certain critical mass in expertise about methods that apply across industries. If your work spans industries, Machine Learning Week is one-stop shopping. Not to mention that convening the key industry figures across sectors greatly expands the networking potential.

The first of these, PAW Business, itself covers a great expanse of business application areas across many industries. Marketing and sales applications, of course. And many other applications in retail, telecommunications, e-commerce, non-profits, etc., etc.

The track topics of PAW Business 2020

PAW Business is a three-track event with track topics that include: analytics operationalization & management i.e., the business side core machine learning methods and advanced algorithms i.e., the technical side innovative business applications covered as case studies, and a lot more.

PAW Financial covers machine learning applications in banking including credit scoring insurance applications, fraud detection, algorithmic trading, innovative approaches to risk management, and more.

PAW Industry 4.0 and PAW Healthcare are also entire universes unto themselves. You can check out the details about all four of these PAWs at predictiveanalyticsworld.com.

And the newer sister event Deep Learning World has its own website, deeplearningworld.com. Deep learning is the hottest advanced form of machine learning with astonishing, proven value for large-signal input problems, such as image classification for self-driving cars, medical image processing, and speech recognition. These are fairly distinct domains, so Deep Learning World does well to complement the four Predictive Analytics World events.

3) Pure-play machine learning content

Number three, youll get pure-play machine learning content. PAWs agenda is not watered down with much coverage of other kinds of big data work. Instead, its ruthlessly focused specifically on the commercial application of machine learning also known as predictive analytics. The conference doesnt cover data science as a whole, which is a much broader and less well-defined area, that, for example, can include standard business intelligence reporting and such. And we dont cover AI per se. Artificial intelligence is at best a synonym for machine learning that tends to over-hype, or at worst an outright lie that promises mythological capabilities.

4) Hot new machine learning practices

Number four, youll learn the latest and greatest, the hottest new machine learning practices. Now, we launched PAW over a decade ago, so far delivering value to over 14,000 attendees across more than 60 events. To this day, PAW remains the leading commercial event because we keep up with the most valuable trends.

For example, Deep Learning World, which launched more recently in 2018 covers deep learnings commercial deployment across industry sectors. This relatively new form of neural networks has blossomed, both in buzz and in actual value. As I mentioned, it scales machine learning to process, for example, complex image data.

And what had been PAW Manufacturing for some years has now changed its name to PAW Industry 4.0. As such, the event now covers a broader area of inter-related work applying machine learning for smart manufacturing, the Internet of Things (IoT), predictive maintenance, logistics, fault prediction, and more.

In general, machine learning continues to widen its adoption and apply in new, innovative ways across sectors in marketing, financial risk, fraud detection, workforce optimization, and healthcare. PAW keeps up with these trends and covers todays best practices and the latest advanced modeling methods.

5) Vendor-neutral content

And finally, number five, youll access vendor-neutral content. PAW isnt run by an analytics vendor and the speakers arent trying to sell you on anything but good ideas. PAW speakers understand that vendor-neutral means those in attendance must be able to implement the practices covered and benefit from the insights delivered without buying any particular analytics product.

During the event, some vendors are permitted to deliver short presentations during a limited minority of demarcated sponsored sessions. These sessions often are also substantive and of great interest. In fact, you can access all the sponsors and tap into their expertise at will in the exhibit hall, where theyre set up for just that purpose.

By the way, if youre an analytics vendor yourself, check out PAWs various sponsorship opportunities. Our events bring together a great crowd of practitioners and decision makers.

Summary Five Reasons to Go

1) Brand-name case studies

2) Cross-industry coverage

3) Pure-play machine learning content

4) Hot new machine learning practices

5) Vendor-neutral content

and those are the reasons to come to Machine Learning Week: brand-name, cross-industry, vendor-neutral case studies purely on machine learnings commercial deployment, and the hottest topics and techniques.

Machine Learning Week not only delivers unique knowledge-gaining opportunities, its also a universal meeting place the industrys premier networking event. It brings together the whos who of machine learning and predictive analytics, the greatest diversity of expert speakers, perspectives, experience, viewpoints, and case studies.

This all turns the normal conference stuff into a much richer experience, including the keynotes, expert panels, and workshop days, as well as opportunities to network and talk shop during the lunches, coffee breaks, and reception.

I encourage you to check out the detailed agenda see all the speakers, case studies, and advanced methods covered. Each of the five conferences has its own agenda webpage, or you can also view the entire five-conference, eight-track mega-agenda at once. This view pertains if youre considering registering for the full Machine Learning Week pass, or if youll be attending along with other team members in order to divide and conquer.

Visit our website to see all these details, register, and sign up for informative event updates by email.

Or to learn more about the field in general, check out our Predictive Analytics Guide, our publication The Machine Learning Times, which includes revealing PAW speaker interviews, and, episodes of this show, The Dr. Data Show which, by the way, is generally about the field of machine learning in general, rather than about our PAW events.

This article is based on a transcript from The Dr. Data Show.

CLICK HERE TO VIEW THE FULL EPISODE

About the Dr. Data Show. This new web series breaks the mold for data science infotainment, captivating the planet with short webisodes that cover the very best of machine learning and predictive analytics. Click here to view more episodes and to sign up for future episodes of The Dr. Data Show.

About the Author

Eric Siegel, Ph.D., founder of the Predictive Analytics Worldand Deep Learning World conference series and executive editor ofThe Machine Learning Times, makes the how and why of predictive analytics (aka machine learning) understandable and captivating. He is the author of the award-winning bookPredictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die, the host of The Dr. Data Show web series, a former Columbia University professor, and a renowned speaker, educator, and leader in the field. Follow him at @predictanalytic.

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Five Reasons to Go to Machine Learning Week 2020 - Machine Learning Times - machine learning & data science news - The Predictive Analytics Times

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Adventures With Artificial Intelligence and Machine Learning – Toolbox

Since October of last year I have had the opportunity to work with an startup working on automated machine learning and I thought that I would share some thoughts on the experience and the details of what one might want to consider around the start of a journey with a data scientist in a box.

Ill start by saying that machine learning and artificial intelligence has almost forced itself into my work several times in the past eighteen months, all in slightly different ways.

The first brush was back in June 2018 when one of the developers I was working with wanted to demonstrate to me a scoring model for loan applications based on the analysis of some other transactional data that indicated loans that had been previously granted. The model had no explanation and no details other than the fact that it allowed you to stitch together a transactional dataset which it assessed using a nave Bayes algorithm. We had a run at showing this to a wider audience but the palate for examination seemed low and I suspect that in the end the real reason was we didnt have real data and only had a conceptual problem to be solved.

The second go was about six months later when another colleague in the same team came up with a way to classify data sets and in fact developed a flexible training engine and data tagging approach to determining whether certain columns in data sets were likely to be names, addresses, phone numbers and email addresses. On face value you would think this to be something simple but in reality, it is of course only as good as the training data and in this instance we could easily confuse the system and the data tagging with things like social security numbers that looked like phone numbers, postcodes that were simply numbers and ultimately could be anything and so on. Names were only as good as the locality from which the names training data was sourced and cities, towns. Streets and provinces all proved to most work ok but almost always needed region-specific training data. At any rate, this method of classifying contact data for the most part met the rough objectives of the task at hand and so we soldiered on.

A few months later I was called over to a developers desk and asked for my opinion on a side project that one of the senior developers and architects had been working on. The objective was ambitious but impressive. The solution had been built in response to three problems in the field. The first problem to be solved was decoding why certain records were deemed to be related to one another when with the naked eye they seemed to not be, or vice versa. While this piece didnt involve any ML per se, the second part of the solution did, in that it self-configured thousands of combinations of alternative fuzzy matching criteria to determine an optimal set of duplicate record matching rules.

This was understandably more impressive and practically understandable almost self-explanatory. This would serve as a great utility for a consultant, a data analyst or a relative layperson to find explainability in how potential duplicate records were determined to have a relationship. This was specifically important because it immediately could provide value to field services personnel and clients. In addition, the developer had cunningly introduced a manual matching option that allowed a user to evaluate two records and make a decision through visual assessment as to whether two records could potentially be considered related to one another.

In some respects what was produced was exactly the way that I like to see products produced. The field describes the problem; the product management organization translates that into more elaborate stories and looks for parallels in other markets, across other business areas and for ubiquity. Once those initial requirements have been gathered it is then to engineering and development to come up with a prototype that works toward solving the issue.

The more experienced the developer of course the more comprehensive the result may be and even the more mature the initial iteration may be. Product is then in a position to pitch the concept back at the field, to clients and a selective audience to get their perspective on the solution and how well it matches the for solving the previously articulated problem.

The challenge comes when you have a less tightly honed intent, a less specific message and a more general problem to solve and this comes now to the latest aspect of machine learning and artificial intelligence that I picked up.

One of the elements with dealing with data validation and data preparation is the last mile of action that you have in mind for that data. If your intent is as simple as one of, lets evaluate our data sources, clean them up and makes them suitable for online transaction processing then thats a very specific mission. You need to know what you want to evaluate, what benchmark you wish to evaluate them against and then have some sort of remediation plan for them so that they support the use case for which theyre intended say, supporting customer calls into a call centre. The only areas where you might consider artificial intelligence and machine learning for applicability in this instance might be for determining matches against the baseline but then the question is whether you simply have a Boolean decision or whether in fact, some sort of stack ranking is relevant at all. It could be argued either way, depending on the application.

When youre preparing data for something like a decision beyond data quality though, the mission is perhaps a little different. Effectively your goal may be to cut the cream of opportunities off the top of a pile of contacts, leads, opportunities or accounts. As such, you want to use some combination of traits within the data set to determine influencing factors that would determine a better (or worse) outcome. Here, linear regression analysis for scoring may be sufficient. The devil, of course, lies in the details and unless youre intimately familiar with the data and the proposition that youre trying to resolve for you have to do a lot of trial and error experimentation and validation. For statisticians and data scientists this is all very obvious and you could say, is a natural part of the work that they do. Effectively the challenge here is feature selection. A way of reducing complexity in the model that you will ultimately apply to the scoring.

The journey I am on right now with a technology partner, focuses on ways to actually optimise the features in a way that only the most necessary and optimised features will need to be considered. This, in turn, makes the model potentially simpler and faster to execute, particularly at scale. So while the regression analysis still needs to be done, determining what matters, what has significance and what should be retained vs discarded in terms of the model design, is being all factored into the model building in an automated way. This doesnt necessarily apply to all kinds of AI and ML work but for this specific objective it is perhaps more than adequate and one that doesnt require a data scientist to start delivering a rapid yield.

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Adventures With Artificial Intelligence and Machine Learning - Toolbox

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