The BIBF Concludes a Tech Masterclass on Machine Learning in Banking & Finance
Wednesday, 8th November 2023
The Bahrain Institute of Banking and Finance (BIBF) has concluded a high-level tech masterclass on Machine Learning in Banking & Finance, designed to equip participants with valuable insights and tools to harness the power of data and machine learning in the banking and finance field.
The masterclass, led by Dr. Sudhakar Raju, a renowned Harvard University Professor, introduced participants to the versatile programming language R, a popular programming language used for statistical computing and graphical presentation, making it accessible even to individuals with no prior programming experience. The programme began with fundamental concepts and progressively delved into the world of machine learning, with a strong focus on practical applications within finance and banking. Participants learned about statistical modelling, multiple linear regression, logistic regression, portfolio optimisation, clustering, decision trees, and much more. The integration of R into the course ensured that participants had a hands-on experience to apply their knowledge effectively.
Ms. Maryam Majed, Head of Digital Transformation and Project Management Centre at the BIBF, stated, “This masterclass reflects the BIBF’s commitment to nurturing digital talents in the financial sector, equipping them with the essential skills needed to drive the accelerated shift within their respective organisations.”
She added, ‘We are entering a new era where data and technology are the primary drivers of the economy and development. Embracing machine learning technologies in the financial sector allows institutions to gain a competitive edge, enhance decision-making processes, and improve financial endeavors.”
Ms. Maryam also mentioned that the ‘Tech Masterclass’ concept was introduced last year, to reflect the BIBF’s commitment to being responsive to market requirements by introducing training opportunities on trending topics, staying at the forefront of tech training and providing professionals with the knowledge and skills they need to excel in a rapidly evolving digital landscape.
