一、主題：From Man vs. Machine to Man + Machine: The Art and AI of Stock Analyses 

二、主講人：曹順

曹順，佐治亞州立大學Robinson商學院終身副教授。美國伊利諾伊大學香槟分校會計學博士畢業。主要研究領域：公司信息披露，大數據分析，深度學習和人工智能，文本和圖像分析。在Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Journal of Accounting Research, The Accounting Review, Contemporary Accounting Research, and IEEE Computer等金融學、會計學和計算機科學領域的頂級期刊上發表多篇文章。 

三、時間：2021年4月23日（星期五）上午10:00-11:30

地點：沙河校區學院樓3号樓127會議室 

四、主持人： 朱一峰，bevictor伟德官网副教授 

五、内容簡介

Abstract: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.