曹顺:From Man vs. Machine to Man + Machine: The Art and AI of Stock Analyses

发布时间:2021-04-28浏览次数:521

  间:2021513日(星期四)10:00-11:30

  点:松江校区2235

主讲人:曹顺 佐治亚州立大学副教授

主持人:张健教授

  题:From Man vs. Machine to Man + Machine: The Art and AI of Stock Analyses

讲座摘要:

An AI analyst we build to digest corporate financial information, qualitative disclosure and news is able to beat the majority of human analysts in stock forecasts and generate excess returns compared to following human analysts alone. In the contest of “machine vs. human,” we find that the relative advantage of such an AI Analyst is stronger when the firm is complex, and when information is high-dimensional, transparent and voluminous. Human analysts remain competitive when critical information requires institutional knowledge (such as the nature of intangible assets). The edge of the AI analyst over human analysts declines over time, when analysts gain access to alternative data and to in-house AI resources. Combining AI’s computational power and the human art of understanding soft information produce the highest potential in generating accurate forecasts. Our paper suggests a future of “machine plus human” in high-skilled professions as an alternative to the replacement of humans by machines.


嘉宾简介:

曹顺

佐治亚州立大学罗宾逊商学院副教授。伊利诺伊大学香槟分校会计学博士,研究聚焦于公司信息披露,特别是公司信息披露对投资者及公司决策的影响。曹老师已在Journal of Financial EconomicsJournal of Financial and Quantitative AnalysisJournal of Accounting ResearchThe Accounting ReviewContemporary Accounting Research, and IEEE Computer等金融学、会计学和计算机科学领域的顶级期刊上发表多篇文章。同时,其研究成果也多次在Stanford University, Cornell University, New York University, University of Virginia, University of MinnesotaPennsylvania State University等著名研究型院校中报告。他的研究也曾在美国证券交易委员会(SEC)和美国国家经济研究局NBER)等国家政策制定与咨询部门中汇报研究成果。此外,曹老师的研究还吸引了诸多业界公司的兴趣与关注。他的研究曾多次受邀参加State Street Boston headquarters, Grant Thornton executives, Ant Financial, Baidu, DataYesJD.com行业领先的金融和人工智能公司的交流研讨。

承办:

金融科技与财务管理系

科研与师资发展办公室


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