Explore cutting-edge developments in risk-aware multi-armed bandit problems through this comprehensive lecture by Vincent Tan. Delve into probabilistic and optimization methods in data science as part of a broader discussion meeting organized by the International Centre for Theoretical Sciences. Gain insights into the analytic and algorithmic aspects of data processing, combining model-based and data-driven approaches. Examine the intersection of high-end mathematics and practical heuristics in the rapidly evolving field of data science. Learn about the latest trends in optimization, linear algebra, probability, and statistics driving the data revolution. Benefit from exposure to leading themes in the field and discover new directions in research and application.