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Explain Conditional Random Fields like I'm stupid?

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I have been reading about CRFs and nothing is seeming to click. Can somebody give me a general idea of what CRFs are doing, persay? I understand HMMs, and people often relate them in the literature but I don't understand the relationship.

Why are CRFs undirected? When would you use CRFs over HMMs? What extra power do they provide? Thanks!

submitted by crfplease
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