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Important Facts For Prelims (28th March 2019)

  • 28 Mar 2019
  • 3 min read

Turing Award, 2018

  • The 2018 Turing Award has been given to a trio of researchers who laid the foundations for the current boom in Artificial Intelligence (AI).
  • Yoshua Bengio, Geoffrey Hinton, and Yann LeCun — sometimes called the ‘Godfathers of AI’ — have been recognized with the annual prize for their work developing the AI subfield of deep learning.
  • Turing Award (A.M. Turing Award) is an annual award given by the Association for Computing Machinery (ACM) to one or more individuals “selected for contributions of a technical nature made to the computing community.”
  • The award is jointly funded by the Intel Corporation and Google Inc.
  • The Turing Award is often referred to as the computer science equivalent of the Nobel Prize.

Deep Learning

  • Deep learning is a machine learning technique that teaches computers to do what comes naturally to humans: learn by example.
  • Deep learning is a key technology behind driverless cars, enabling them to recognize a stop sign or to distinguish a pedestrian from a lamppost. It is the key to voice control in consumer devices like phones, tablets, TVs, and hands-free speakers.

Association for Computing Machinery (ACM)

  • Association for Computing Machinery (ACM), an international organization for computer science and information technology professionals and, since 1960, institutions associated with the field.

Dr. A.M. Turing

  • Alan Mathison Turing (1912-1954) was a British mathematician and logician, who made major contributions to mathematics, cryptanalysis, logic, philosophy, and mathematical biology and also to the new areas later named computer science, cognitive science, artificial intelligence, and artificial life.

Rupee Interest Rate Derivatives

  • The Reserve Bank has allowed non-residents to participate in the rupee interest rate derivatives segment with a view to deepen the rupee interest rate swap (IRS) market.
  • The non-residents can undertake rupee interest rate derivative transactions on recognised stock exchanges, electronic trading platforms and over the counter markets.
  • A non-resident will be allowed to undertake transactions in the rupee interest rate derivatives markets to hedge an exposure to rupee interest rate risk and other specified purposes.
  • The exercise is aimed at increasing participation of non-residents in the domestic market. This will also stabilise Indian Rupee against Dollar.
  • An interest-rate derivative is a financial instrument with a value that increases and decreases based on movements in interest rates.
    • Interest-rate derivatives are often used as hedges by institutional investors, banks, companies and individuals to protect themselves against changes in market interest rates
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