… At the Commission we are currently applying machine learning methods to detect potential market misconduct. Many of the methods are open source and easy to implement for those trained in data science. There is no need to rely on proprietary solutions, captive vendors, or complicated third-party support for data analytic success. This freedom has fueled the rapid innovation at the SEC, and I suspect also among your organizations.
But we all still face significant challenges in adopting these emerging methods. Identifying the appropriate computing environment is one of them. I’m sure the question “should I move to the cloud or keep my analytics on premises?” is not foreign to anyone in this room. Developing the right human capital is another. Everyone knows that they need a good data scientist, even if it is not entirely clear how to define what one is, let alone find it. Click here to learn more.