At the invitation of the School of Management and Economics, Assistant Professor Tong Siliang of Nanyang Technological University delivered an academic report entitled "Artistic Intelligence Analyst and IndividualInvestor Activities: Imperial Evidence from Mutual Fund Investment" at 10 a.m. on April 24, 2023 in Conference Room 418 of the main building. The presentation was presided over by Associate Professor Jia Lin, and many teachers and students from the college participated in the presentation.
At the beginning of the report, Dr. Tong pointed out that with the rapid development of artificial intelligence (AI), over 40% of financial trading activities worldwide are achieved through AI algorithms. Major financial institutions have invested over $9 billion in research and development for AI in financial transactions and asset management. Among them, AI analysts targeting individual investments can provide more accurate market information, potential risk assessment and investment returns for specific investment products through AI analysis technology, providing support for individual investment decisions.
Dr. Tong stated that the commercial value of AI analysts is currently unclear. On the one hand, AI analysts can reduce the cost of obtaining investment information and provide more objective and comprehensive analysis. On the other hand, AI analysts may cause people's aversion and information overload. Therefore, Dr. Tong used the Natural experiment formed by Zhixiaobao, an intelligent financial assistant launched by Alipay, to study the impact of AI analysts using the double difference method (DID). Dr. Tong's research shows that using AI analysts can increase the frequency of individual investment behavior and investment returns. At the same time, for individual users with limited investment knowledge, AI analysts have a stronger impact, while their impact is weaker for those who are less familiar with AI and financial technology.
Finally, Dr. Tong proposed based on the results of empirical research that the use of AI analysts can not only improve individual users' investment behavior but also increase their tolerance and preference for high-risk investments. In addition, this result also reveals that on the one hand, the use of AI can have a positive impact on Financial inclusion, but on the other hand, it can also have a negative effect because people dislike AI.
After the report, the attending teachers and students had a positive discussion with Dr. Tong, which received a lot of inspiration. The report received a warm response and received unanimous praise from teachers and students.
Introduction to the reporter:
Assistant Professor Tong Siliang joined the Nanyang Technological University Nanyang School of Business in 2021, and received a doctor's degree in marketing from Temple University Fox College of Business in 2020. Dr. Tong's main research fields involve artificial intelligence, mobile application marketing and Sharing economy. His research results have been rated as the best paper at AMA conferences, ISMS Marketing Science, and others. Currently, research has been published in the Strategic Management Journal, Marketing Science, Journal of Marketing, Journal of the Academy of Marketing Science. Before entering the academic world, Dr. Tong had six years of management experience in digital marketing and network analysis, and received an MBA degree from the University of Wisconsin–Madison in 2016.
