Probabilistic Machine Learning for Finance and Investing
Language: English
Published by O'Reilly Media, US, 2023
- Softcover
- New
Seller: Rarewaves.com UK, London, United KingdomRarewaves.com UK
AbeBooks seller since June 11, 2025
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Whether based on academic theories or machine learning strategies, all financial models are at the mercy of modeling errors that can be mitigated but not eliminated. Probabilistic ML technologies are based on a simple and intuitive definition of probability and the rigorous calculus of probability theory.These systems treat uncertainties and errors of financial and investing systems as features, not bugs. And they quantify uncertainty generated from inexact inputs and outputs as probability distributions, not point estimates. This makes for realistic financial inferences and predictions that are useful for decision-making and risk management. These systems are capable of warning us when their inferences and predictions are no longer useful in the current market environment.Probabilistic ML is the next generation ML framework and technology for AI-powered financial and investing systems for many reasons. By moving away from flawed statistical methodologies (and a restrictive conventional view of probability as a limiting frequency), you'll move toward an intuitive view of probability as a mathematically rigorous statistical framework that quantifies uncertainty holistically and successfully. This book shows you how.…
Seller Inventory # LU-9781492097679
- Title
- Probabilistic Machine Learning for Finance and Investing
- Author
- Deepak K. Kanungo
- Publisher
- O'Reilly Media, US
- Publication year
- 2023
- Condition
- New
- Binding
- Paperback
- Language
- English
- ISBN 10
- 1492097675
- ISBN 13
- 9781492097679
There are several reasons why probabilistic machine learning represents the next-generation ML framework and technology for finance and investing. This generative ensemble learns continually from small and noisy financial datasets while seamlessly enabling probabilistic inference, retrodiction, prediction, and counterfactual reasoning. Probabilistic ML also lets you systematically encode personal, empirical, and institutional knowledge into ML models.
Whether they're based on academic theories or ML strategies, all financial models are subject to modeling errors that can be mitigated but not eliminated. Probabilistic ML systems treat uncertainties and errors of financial and investing systems as features, not bugs. And they quantify uncertainty generated from inexact inputs and outputs as probability distributions, not point estimates. This makes for realistic financial inferences and predictions that are useful for decision-making and risk management.
Unlike conventional AI, these systems are capable of warning us when their inferences and predictions are no longer useful in the current market environment. By moving away from flawed statistical methodologies and a restrictive conventional view of probability as a limiting frequency, you'll move toward an intuitive view of probability as logic within an axiomatic statistical framework that comprehensively and successfully quantifies uncertainty. This book shows you how.
"Synopsis" may belong to another edition of this title.
About the Author
In 2005, long before machine learning was an industry buzzword, Deepak invented a probabilistic machine learning method and software system for managing the risks and returns of project portfolios. It is a unique probabilistic framework that has been cited by IBM and Accenture, among others.
Previously, Deepak was a financial advisor at Morgan Stanley, a Silicon Valley fintech entrepreneur, a director in the Global Planning Department at Mastercard International and a senior analyst with Diamond Technology Partners. He was educated at Princeton University (astrophysics) and The London School of Economics (finance and information systems).
"About the title" may belong to another edition of this title.
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