Explore the intersection of machine learning and finance in this 32-minute conference talk by Charles Elkan from the University of California, San Diego, presented at the Toronto Machine Learning Series. Gain insights into the current excitement surrounding machine learning in the business world and understand its capabilities compared to a decade ago. Discover the areas where humans still excel and identify the best opportunities for applying machine learning in trading and banking. Learn about ten potential pitfalls to avoid when implementing ML projects and receive guidance on how to effectively direct and organize applied machine learning initiatives. Consider the role of deep learning in finance and obtain reasoned answers to critical questions about the practical application of machine learning in the financial sector.