BUS News

How is artificial intelligence (AI) transforming the finance industry? On 19^th December 2024, the HKBU School of Business hosted a public lecture titled “AI and Finance”, featuring Prof. Lin William CONG, Rudd Family Endowed Chair Professor of Management and Professor of Finance at Cornell University. The event, moderated by Prof. Aristotelis STOURAITIS, Professor, Department of Accountancy, Economics and Finance of the School, attracted around 60 attendees both in-person and online.

Prof. CONG emphasised the advantages of using simpler AI models for finance applications, such as tree-based algorithms. These models are not only effective but also easier to understand, making them particularly well-suited for the financial sector. He highlighted the transformative potential of Generative AI (GenAI) in finance, which can simulate real-life decision-making processes, offering flexibility and applicability across various scenarios.

Additionally, Prof. CONG shared intriguing findings from his research on online credit markets. His study revealed that GenAI significantly improves the quality of writing in credit applications, enhancing the perceived quality of loans and increasing the chances of securing funding. This demonstrates AI's ability to streamline financial processes, making them more efficient and accessible.

Stay tuned for more public lectures by the HKBU School of Business.