報(bào)告時(shí)間：2023年4月24日（周一）上午10點(diǎn)
報(bào)告題目：Artificial Intelligence Analyst and Individual Investor Activities: Empirical Evidence from Mutual Fund Investment
地點(diǎn)：主樓418
報(bào)告人：南洋理工大學(xué)佟思亮助理教授
報(bào)告內(nèi)容簡(jiǎn)介：
Many retail investment platforms have introduced artificial intelligence (AI) analysts to help individual investors gather insights and evaluate investment products. Yet, there is scant empirical effort examining the business impact of such an AI tool on individual investors' financial market investments. To fill this gap, we collaborate with Ant Fortune (an affiliate of Alibaba), the largest retail investment platform in China, and explore a unique dataset wherein an AI analyst was introduced to facilitate individual investors’ investment activity. Our analyses provide the first empirical evidence showing that individual investors who use the AI analyst perform more manual investment sessions and invest more than those who do not use the AI tool. Interestingly, our further analyses document both positive and negative effects across heterogeneous investor groups. Specifically, we demonstrate that, on the one hand, the use of an AI analyst could drive more investment activity from individual investors who lack adequate financial knowledge, indicating a positive financial inclusion effect. On the other hand, we find that AI analyst use reduces investment activity from investors who are less familiar with financial technology, suggesting a negative resistance effect of AI applications. More importantly, using an AI analyst alters investors’ risk tolerance, increasing their investment in products carrying increased volatility. Despite the positive effects of using AI analysts for investment returns, information overload causes lower returns for investors with less finance knowledge. Our results help platform managers understand whether and how they should implement AI analysts to promote individual investors’ standing in financial markets.
報(bào)告人簡(jiǎn)介：
佟思亮助理教授于2021年加入南洋理工商學(xué)院信息技術(shù)與運(yùn)營(yíng)管理系，于2020年獲得天普大學(xué)?？怂股虒W(xué)院的營(yíng)銷博士學(xué)位。佟博士是實(shí)證方向的研究者，主要研究領(lǐng)域涉及人工智能、移動(dòng)應(yīng)用營(yíng)銷和共享經(jīng)濟(jì)。其研究成果在AMA會(huì)議、ISMS Marketing Science等被評(píng)為最佳論文。目前已有研究發(fā)表成果在Strategic Management Journal，Marketing Science，Journal of Marketing，Journal of the Academy of Marketing Science。在進(jìn)入學(xué)術(shù)界以前，佟博士有6年數(shù)字營(yíng)銷和網(wǎng)絡(luò)分析的管理工作經(jīng)驗(yàn)，并于2016年獲得威斯康星大學(xué)麥迪遜分校的MBA學(xué)位。
（承辦：管理工程系、科研與學(xué)術(shù)交流中心）
