This book presents a systematic application of recent advances in artificial intelligence (AI) to the problem of asset management. While natural language processing and text mining techniques, such as semantic representation, sentiment analysis, entity extraction, commonsense reasoning, and fact checking have been evolving for decades, finance theories have not yet fully considered and adapted to these ideas.

In this unique, readable volume, the authors discuss integrating textual knowledge and market sentiment step-by-step, offering readers new insights into the most popular portfolio optimization theories: the Markowitz model and the Black-Litterman model. The authors also provide valuable visions of how AI technology-based infrastructures could cut the cost of and automate wealth management procedures.

This inspiring book is a must-read for researchers and bankers interested in cutting-edge AI applications in finance.

This book presents a synthetic analysis about the characteristics of time expressions and named entities, and some proposed methods for leveraging these characteristics to recognize time expressions and named entities from unstructured text. For modeling these two kinds of entities, the authors propose a rule-based method that introduces an abstracted layer between the specific words and the rules, and two learning-based methods that define a new type of tagging scheme based on the constituents of the entities, different from conventional position-based tagging schemes that cause the problem of inconsistent tag assignment. The authors also find that the length-frequency of entities follows a family of power-law distributions. This finding opens a door, complementary to the rank-frequency of words, to understand our communicative system in terms of language use.

About half a century ago, AI pioneers like Marvin Minsky embarked on the ambitious project of emulating how the human mind encodes and decodes meaning. While today we have a better understanding of the brain thanks to neuroscience, we are still far from unlocking the secrets of the mind, especially when it comes to language, the prime example of human intelligence. “Understanding natural language understanding”, i.e., understanding how the mind encodes and decodes meaning through language, is a significant milestone in our journey towards creating machines that genuinely comprehend human language. Large language models (LLMs) such as GPT-4 have astounded us with their ability to generate coherent, contextually relevant text, seemingly bridging the gap between human and machine communication. Yet, despite their impressive capabilities, these models operate on statistical patterns rather than true comprehension. 

This textbook delves into the nuanced differences between these two paradigms and explores the future of AI as we strive to achieve true natural language understanding (NLU). LLMs excel at identifying and replicating patterns within vast datasets, producing responses that appear intelligent and meaningful. They can generate text that mimics human writing styles, provide summaries of complex documents, and even engage in extended dialogues with users. However, their limitations become evident when they encounter tasks that require deeper understanding, reasoning, and contextual knowledge. An NLU system that deconstructs meaning leveraging linguistics and semiotics (on top of statistical analysis) represents a more profound level of language comprehension. It involves understanding context in a manner similar to human cognition, discerning subtle meanings, implications, and nuances that current LLMs might miss or misinterpret. NLU grasps the semantics behind words and sentences, comprehending synonyms, metaphors, idioms, and abstract concepts with precision.

This textbook explores the current state of LLMs, their capabilities and limitations, and contrasts them with the aspirational goals of NLU. The author delves into the technical foundations required for achieving true NLU, including advanced knowledge representation, hybrid AI systems, and neurosymbolic integration, while also examining the ethical implications and societal impacts of developing AI systems that genuinely understand human language. Containing exercises, a final assignment and a comprehensive quiz, the textbook is meant as a reference for courses on information retrieval, AI, NLP, data analytics, data mining and more. 

This book contains some selected papers from the International Conference on Extreme Learning Machine 2014, which was held in Singapore, December 8-10, 2014. This conference brought together the researchers and practitioners of Extreme Learning Machine (ELM) from a variety of fields to promote research and development of “learning without iterative tuning”.  The book covers theories, algorithms and applications of ELM. It gives the readers a glance of the most recent advances of ELM.

This book contains some selected papers from the International Conference on Extreme Learning Machine 2014, which was held in Singapore, December 8-10, 2014. This conference brought together the researchers and practitioners of Extreme Learning Machine (ELM) from a variety of fields to promote research and development of “learning without iterative tuning”. The book covers theories, algorithms and applications of ELM. It gives the readers a glance of the most recent advances of ELM.

This book contains some selected papers from the International Conference on Extreme Learning Machine 2016, which was held in Singapore, December13-15, 2016. This conference will provide a forum for academics, researchers and engineers to share and exchange R&D experience on both theoretical studies and practical applications of the ELM technique and brain learning.  Extreme Learning Machines (ELM) aims to break the barriers between the conventional artificial learning techniques and biological learning mechanism. ELM represents a suite of (machine or possibly biological) learning techniques in which hidden neurons need not be tuned. ELM learning theories show that very effective learning algorithms can be derived based on randomly generated hidden neurons (with almost any nonlinear piecewise activation functions), independent of training data and application environments. Increasingly, evidence from neurosciencesuggests that similar principles apply in biological learning systems. ELM theories and algorithms argue that “random hidden neurons” capture an essential aspect of biological learning mechanisms as well as the intuitive sense that the efficiency of biological learning need not rely on computing power of neurons. ELM theories thus hint at possible reasons why the brain is more intelligent and effective than current computers. ELM offers significant advantages over conventional neural network learning algorithms such as fast learning speed, ease of implementation, and minimal need for human intervention. ELM also shows potential as a viable alternative technique for large‐scale computing and artificial intelligence.

This book covers theories, algorithms ad applications of ELM. It gives readers a glance of the most recent advances of ELM. 

The abundance of text available in social media and health-related forums and blogs have recently attracted the interest of the public health community to use these sources for opinion mining. This book presents a lexicon-based approach to sentiment analysis in the bio-medical domain, i.e., WordNet for Medical Events (WME). This book gives an insight in handling unstructured textual data and converting it to structured machine-processable data in the bio-medical domain.

The readers will discover the following key novelties:

1) development of a bio-medical lexicon: WME expansion and WME enrichment with additional features.;

2) ensemble of machine learning and computational creativity;

3) development of microtext analysis techniques to overcome the inconsistency in social communication.

This book presents a systematic application of recent advances in artificial intelligence (AI) to the problem of asset management. While natural language processing and text mining techniques, such as semantic representation, sentiment analysis, entity extraction, commonsense reasoning, and fact checking have been evolving for decades, finance theories have not yet fully considered and adapted to these ideas.

In this unique, readable volume, the authors discuss integrating textual knowledge and market sentiment step-by-step, offering readers new insights into the most popular portfolio optimization theories: the Markowitz model and the Black-Litterman model. The authors also provide valuable visions of how AI technology-based infrastructures could cut the cost of and automate wealth management procedures.

This inspiring book is a must-read for researchers and bankers interested in cutting-edge AI applications in finance.

This book presents a synthetic analysis about the characteristics of time expressions and named entities, and some proposed methods for leveraging these characteristics to recognize time expressions and named entities from unstructured text. For modeling these two kinds of entities, the authors propose a rule-based method that introduces an abstracted layer between the specific words and the rules, and two learning-based methods that define a new type of tagging scheme based on the constituents of the entities, different from conventional position-based tagging schemes that cause the problem of inconsistent tag assignment. The authors also find that the length-frequency of entities follows a family of power-law distributions. This finding opens a door, complementary to the rank-frequency of words, to understand our communicative system in terms of language use.

About half a century ago, AI pioneers like Marvin Minsky embarked on the ambitious project of emulating how the human mind encodes and decodes meaning. While today we have a better understanding of the brain thanks to neuroscience, we are still far from unlocking the secrets of the mind, especially when it comes to language, the prime example of human intelligence. “Understanding natural language understanding”, i.e., understanding how the mind encodes and decodes meaning through language, is a significant milestone in our journey towards creating machines that genuinely comprehend human language. Large language models (LLMs) such as GPT-4 have astounded us with their ability to generate coherent, contextually relevant text, seemingly bridging the gap between human and machine communication. Yet, despite their impressive capabilities, these models operate on statistical patterns rather than true comprehension. 

This textbook delves into the nuanced differences between these two paradigms and explores the future of AI as we strive to achieve true natural language understanding (NLU). LLMs excel at identifying and replicating patterns within vast datasets, producing responses that appear intelligent and meaningful. They can generate text that mimics human writing styles, provide summaries of complex documents, and even engage in extended dialogues with users. However, their limitations become evident when they encounter tasks that require deeper understanding, reasoning, and contextual knowledge. An NLU system that deconstructs meaning leveraging linguistics and semiotics (on top of statistical analysis) represents a more profound level of language comprehension. It involves understanding context in a manner similar to human cognition, discerning subtle meanings, implications, and nuances that current LLMs might miss or misinterpret. NLU grasps the semantics behind words and sentences, comprehending synonyms, metaphors, idioms, and abstract concepts with precision.

This textbook explores the current state of LLMs, their capabilities and limitations, and contrasts them with the aspirational goals of NLU. The author delves into the technical foundations required for achieving true NLU, including advanced knowledge representation, hybrid AI systems, and neurosymbolic integration, while also examining the ethical implications and societal impacts of developing AI systems that genuinely understand human language. Containing exercises, a final assignment and a comprehensive quiz, the textbook is meant as a reference for courses on information retrieval, AI, NLP, data analytics, data mining and more. 

This book contains some selected papers from the International Conference on Extreme Learning Machine 2014, which was held in Singapore, December 8-10, 2014. This conference brought together the researchers and practitioners of Extreme Learning Machine (ELM) from a variety of fields to promote research and development of “learning without iterative tuning”.  The book covers theories, algorithms and applications of ELM. It gives the readers a glance of the most recent advances of ELM.

This book contains some selected papers from the International Conference on Extreme Learning Machine 2014, which was held in Singapore, December 8-10, 2014. This conference brought together the researchers and practitioners of Extreme Learning Machine (ELM) from a variety of fields to promote research and development of “learning without iterative tuning”. The book covers theories, algorithms and applications of ELM. It gives the readers a glance of the most recent advances of ELM.

This book contains some selected papers from the International Conference on Extreme Learning Machine 2016, which was held in Singapore, December13-15, 2016. This conference will provide a forum for academics, researchers and engineers to share and exchange R&D experience on both theoretical studies and practical applications of the ELM technique and brain learning.  Extreme Learning Machines (ELM) aims to break the barriers between the conventional artificial learning techniques and biological learning mechanism. ELM represents a suite of (machine or possibly biological) learning techniques in which hidden neurons need not be tuned. ELM learning theories show that very effective learning algorithms can be derived based on randomly generated hidden neurons (with almost any nonlinear piecewise activation functions), independent of training data and application environments. Increasingly, evidence from neurosciencesuggests that similar principles apply in biological learning systems. ELM theories and algorithms argue that “random hidden neurons” capture an essential aspect of biological learning mechanisms as well as the intuitive sense that the efficiency of biological learning need not rely on computing power of neurons. ELM theories thus hint at possible reasons why the brain is more intelligent and effective than current computers. ELM offers significant advantages over conventional neural network learning algorithms such as fast learning speed, ease of implementation, and minimal need for human intervention. ELM also shows potential as a viable alternative technique for large‐scale computing and artificial intelligence.

This book covers theories, algorithms ad applications of ELM. It gives readers a glance of the most recent advances of ELM. 

The abundance of text available in social media and health-related forums and blogs have recently attracted the interest of the public health community to use these sources for opinion mining. This book presents a lexicon-based approach to sentiment analysis in the bio-medical domain, i.e., WordNet for Medical Events (WME). This book gives an insight in handling unstructured textual data and converting it to structured machine-processable data in the bio-medical domain.

The readers will discover the following key novelties:

1) development of a bio-medical lexicon: WME expansion and WME enrichment with additional features.;

2) ensemble of machine learning and computational creativity;

3) development of microtext analysis techniques to overcome the inconsistency in social communication.