New Paradigm for Economic and Financial Research With Generative AI: Impact and Perspective

IF 4.5 2区计算机科学 Q1 COMPUTER SCIENCE, CYBERNETICS

IEEE Transactions on Computational Social Systems Pub Date : 2024-01-02 DOI:10.1109/TCSS.2023.3334306

Xiaolong Zheng;Jingyu Li;Mengyao Lu;Fei-Yue Wang

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Abstract

In the past few years, we have witnessed the rapid development and exponential growth of generative artificial intelligence (GAI) technologies including large language models (LLMs)-enabled ChatGPT and peripheral innovations. These technologies are designed to be humanlike intelligence and intuitive by providing direct access to systems using application programming interfaces (APIs). The GAI applications can fundamentally change economic and financial activities, through revolutionizing the ways that humans interact with machines and giving rise to new modes of production and behavior patterns. It is imperative to develop a new research paradigm that is more suitable than the currently dominating conventional research paradigms. This article presents the new paradigm for economic and financial research with GAI, covering the research objectives, scientific data, and models, and explores the underlying impact and perspective that bring to this field. We elaborate on the potential five scenarios including portfolio management, economic and financial prediction, extreme scenario analysis, policy analysis, and financial fraud detection. The new research paradigm with GAI proposed in this article can provide significant insights for a comprehensive understanding of innovation and transformation in this domain.

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利用生成式人工智能开展经济与金融研究的新范式：影响与展望

在过去几年中，我们见证了生成式人工智能（GAI）技术的快速发展和指数级增长，包括支持大型语言模型（LLMs）的 ChatGPT 和外围创新技术。这些技术旨在通过使用应用编程接口（API）直接访问系统，实现类人智能和直观性。GAI 应用可以从根本上改变经济和金融活动，彻底改变人类与机器的交互方式，并催生新的生产模式和行为模式。当务之急是开发一种比目前占主导地位的传统研究范式更适合的新研究范式。本文介绍了利用 GAI 进行经济和金融研究的新范式，涵盖了研究目标、科学数据和模型，并探讨了该范式给这一领域带来的潜在影响和视角。我们阐述了潜在的五种应用场景，包括投资组合管理、经济和金融预测、极端情景分析、政策分析和金融欺诈检测。本文提出的 GAI 新研究范式可为全面了解该领域的创新和变革提供重要见解。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

IEEE Transactions on Computational Social Systems Social Sciences-Social Sciences (miscellaneous)

CiteScore

10.00

自引率

20.00%

发文量

316

期刊介绍： IEEE Transactions on Computational Social Systems focuses on such topics as modeling, simulation, analysis and understanding of social systems from the quantitative and/or computational perspective. "Systems" include man-man, man-machine and machine-machine organizations and adversarial situations as well as social media structures and their dynamics. More specifically, the proposed transactions publishes articles on modeling the dynamics of social systems, methodologies for incorporating and representing socio-cultural and behavioral aspects in computational modeling, analysis of social system behavior and structure, and paradigms for social systems modeling and simulation. The journal also features articles on social network dynamics, social intelligence and cognition, social systems design and architectures, socio-cultural modeling and representation, and computational behavior modeling, and their applications.

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