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V Course on Machine Learning and Central Banking
From August 12 to 13 and from September 2 to 4, 2024
CEMLA Mexico City, Mexico
From August 12 to 13 and from September 2 to 4, 2024, CEMLA co-organized with Deutsche Bundesbank the 5th Course on Machine Learning and Central Banking. The course was divided into two parts: a theoretical part, held in digital format on August 12 and 13, and a practical part, conducted from September 2 to 4 at CEMLA’s facilities. The objective of the course was to address practical problem-solving using Machine Learning techniques, attracting participation from central bank representatives from Latin America and the Caribbean.
The main goal of the course was to provide participating institutions with Machine Learning (ML) tools and compare them with traditional methodologies to enhance their analytical and predictive capabilities in various areas. During the practical part, attendees began by presenting a use case where they were already employing traditional techniques, some of which involved complex problems still under exploration. A total of 18 use cases were presented, some with common elements, categorized into four main groups:
- Natural Language Processing as an aid in regulation
- Risk and uncertainty modeling
- Structural modeling and predictions
- Foreign exchange market analysis
Throughout the course, various dynamics encouraged discussion and idea exchange among the working groups. Initially, participants discussed their issues, advantages, and disadvantages of the methods used, exploring suggestions from their peers. They then received general feedback and ongoing support from the instructors.
Finally, each group presented the progress made on their use cases, tasks they were still working on, and challenges they still needed to address. Common issues included difficulties in data extraction and transformation processes for models, the trade-off between the accuracy of ML predictions and the explainability of the results, the implementation of proposed solutions into code, and the exploration of novel models not previously used.
Among the models explored during the course were Transformers for text processing, clustering models such as DBSCAN and K-Means, tree-based models like XGBoost, as well as other more classic approaches such as linear and nonlinear regression.
Venue Information
CEMLA is located in Durango 54, Col. Roma, Alcaldía Cuauhtémoc, C.P. 06700 Ciudad de México, México, near downtown Mexico City. Mexico City is located near the center of the country, at an average altitude of 2,300 meters above sea level, bordering the State of Mexico and the state of Morelos. The capital is connected by land to multiple destinations.
Time Zone
Mexico has a time difference with Greenwich Mean Time of -6 hours.
Weather
In Mexico City, the wet season is warm and overcast and the dry season is comfortable and partly cloudy. Throughout the year, the temperature usually ranges from 6°C to 26°C and is rarely below 3°C or above 30°C.
The warm season lasts for 2.5 months, from March 22 to June 8, with an average daily temperature above 20°C. The hottest month of the year in Mexico City is May, with an average high of 27°C and low of 13°C.
The cool season lasts for 2.5 months, from November 19 to February 3, with an average daily high temperature below 22°C. The coldest month of the year in Mexico City is January, with an average low of 6°C and high of 22°C.
Visa Information
All participants are responsible for all Passport and visa formalities, and if needed, to comply with health regulations.
Citizens of certain countries require a visa to enter Mexico. In the following link you will find a list of citizenships which require visas: Countries that require visas.
Exceptions apply if you have a visa or if you are a permanent resident of the United States, Canada or Europe. If you are a citizen of a country requiring a visa, please contact the closest Mexican consulate at: Mexican consulates. For more information, please click here.
Currency and Exchange Rate
Official currency: Mexican peso (MXN).
For the updated exchange rate click here.
You will be able to make currency exchanges at exchange houses and in some bank offices. It is recommended to exchange money at the airport since exchange houses and banks near CEMLA and the suggested hotels are closed on weekends, and close early during the week (around 16:00 hrs). Usually, ATMs are available 24 hours. You may draw cash using international debit and credit cards with worldwide brands, like Visa, Mastercard, Visa Electron and Dinners. For more information, please visit Banco de México.
VAT and others
- · VAT: 16%.
- · Hotel service: additional charge of 3.5% on top of lodging (ISH or lodging tax).
- · Tips at restaurants: from 10% to 15% depends on the service you have received.
Electricity Service
Energy: 127 volts AC at 60 cycles (127V AC, 60 Hz). Two flat-pin plugs and some with grounding.
Transportation
The Benito Juárez International Airport in Mexico City is located 13 kilometers from the Downtown. It has two terminals which are identified by Terminal 1 and Terminal 2 and both are connected by aerotrain and free bus transportation. For more information, you may find the airport website here.
When arriving to Mexico City, transportation from the airport to hotels can be done by transportation apps (such as Uber, Cabify, Didi and Lyft, among others), or taxi. For taxi transportation it is important to select a taxi company inside the airport (there are different options to select from once you exit customs and immigration), pay the cashier inside the airport and ask for the cab in the corresponding exit. The Mexico City International Airport (AICM) offers spaces or boarding areas for the use of authorized cabs accredited by the Ministry of Communications and Transportation (SCT) and regulated by the Airport, for more information on authorized cabs click here.
For transportation in Mexico City, we recommend participants to use transportation apps or taxi service taken from “SITIO” stands. We recommend that participants avoid taking taxis from the street. SITIO stands can be found in several locations and phone numbers to call for taxis can be obtained in the hotels.
CEMLA will not provide transportation services.
Accommodation
The following table shows CEMLA’s recommended hotels, the rates available to events participants and hotel contact information. Booking hotel is the visitors’ responsibility. Consider that hotels usually request a credit card to guarantee the reservation. Consider that hotels usually request a credit card to guarantee the reservation. Rates include 16% VAT and 3.5% ISH (local tax).
To receive the corporate rate in the recommended hotels you must specify the name of CEMLA. Any change of rates is the responsibility of each hotel. Even though some bookings can be made online we recommend contacting the hotel directly to make sure the group rate is given.
Recommended Hotels
Hotel
Rates
Reservation information
Stanza
Av. Álvaro Obregón 13, Roma Nte., Cuauhtémoc, 06700 Ciudad de México, CDMX
(3-minute car trip, 6-minute walk, 500m to CEMLA)
Ordinary rate per night:
$ 125 USD
CEMLA corporate rate:
$ 83 USD, includes taxes
Phone: + 52 55 5080 0900
Royal Reforma
C. Amberes 78, Juárez, Cuauhtémoc, 06600 Ciudad de México, CDMX
(10-minute car trip, 13-minute walk, 1 km to CEMLA)
Ordinary rate per night:
$ 165 USD
CEMLA corporate rate:
$ 81 USD
Includes:
Taxes, Wi-Fi, breakfast buffet, gym, pool, sauna (upon request)
Phone: +52 55 9149 3000
Four Points by Sheraton
Av. Álvaro Obregón 38, C. U. Benito Juárez, Cuauhtémoc, 06700 Ciudad de México, CDMX
(5-minute car trip, 6-minute walk, 500 m to CEMLA)
Ordinary rate per night:
$ 210 USD
CEMLA corporate rate:
$
114
USD
accommodation
only
$
130
USD
accommodation
and
buffet
breakfast
Includes:
Taxes, Wi-Fi, fitness center
Phone: +52 55 1085 9500
Sheraton Mexico City María Isabel
Av. Paseo de la Reforma 325, Cuauhtémoc, 06500 Ciudad de México, CDMX
(13-minute car trip, 21-minute walk, 1.6 km to CEMLA)
Ordinary rate per night:
According to demand
CEMLA corporate rate:
$ 198 USD
Includes:
Taxes, Wi-Fi, breakfast buffet, gym
Phone: +52 55 52425672
Marriot Reforma
Av. Paseo de la Reforma 276, Juárez, Cuauhtémoc, 06600 Ciudad de México, CDMX
(15-minute car trip, 17-minute walk, 1.3 km to CEMLA)
Ordinary rate per night:
$ 419 USD
CEMLA corporate rate:
$ 207 USD
Includes:
Taxes, Wi-Fi in business center, breakfast buffet, gym
Phone: +52 55 1102 7030
Map
Visit Mexico
Mexico City is a unique visitor destination offering a wide range of attractions combining historic and modern-day life in a vibrant and friendly atmosphere. Take a day to visit the pre-Hispanic ruins of Teotihuacan, or visit the Centro Histórico and marvel at its rich architecture form the Catedral and Plaza del Zócalo to Palacio de Bellas Artes, visit world-class museums, or spend the day at some of the modern-day bustling neighborhoods and enjoy a fine dining experience at some of the world’s top-rated restaurants. For more information visit: Official Mexico City Visitors' Guide | Guía oficial para turistas de la CDMX Mexico City.
Dinning
Mexico City offers a wide variety of restaurants most of them located in the tourist areas of Polanco, Roma and Condesa near the Conference Venue.
Sightseeing/Day trips
If you are planning to stay an extra day or two in Mexico City, we recommend taking a day to visit the Centro Histórico, Coyoacán, Reforma Avenue, Colonia Roma, Xochimilco, and Chapultepec.
A day trip to Teotihuacan to see the pyramids can be arranged with the hotel concierge.
Mexico City offers some world class museums including the Anthropology Museum, the Museo Soumaya, and the Interactive Museum of Economics.