人工智能革命:从线性回归到ChatGPT及其他，以及它如何与金融联系

IF 1.1 4区经济学 Q3 BUSINESS, FINANCE

Journal of Portfolio Management Pub Date : 2023-07-06 DOI:10.3905/jpm.2023.1.519

Irene E. Aldridge

{"title":"人工智能革命:从线性回归到ChatGPT及其他，以及它如何与金融联系","authors":"Irene E. Aldridge","doi":"10.3905/jpm.2023.1.519","DOIUrl":null,"url":null,"abstract":"This article surveys the evolution of machine learning from linear regression through ChatGPT to fully unsupervised learning. We illustrate the advantages of artificial intelligence (AI) over traditional methods with simple intuitive examples for the US equities markets. We also show that the AI inferences are consistent with classical finance models, such as the capital asset pricing model. We also describe how, unlike machine learning, true AI unsupervised models satisfy the optimal modeling characteristics. Most importantly, we show step by step how AI identifies and extracts signals from data.","PeriodicalId":53670,"journal":{"name":"Journal of Portfolio Management","volume":"49 1","pages":"64 - 77"},"PeriodicalIF":1.1000,"publicationDate":"2023-07-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"The AI Revolution: From Linear Regression to ChatGPT and beyond and How It All Connects to Finance\",\"authors\":\"Irene E. Aldridge\",\"doi\":\"10.3905/jpm.2023.1.519\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This article surveys the evolution of machine learning from linear regression through ChatGPT to fully unsupervised learning. We illustrate the advantages of artificial intelligence (AI) over traditional methods with simple intuitive examples for the US equities markets. We also show that the AI inferences are consistent with classical finance models, such as the capital asset pricing model. We also describe how, unlike machine learning, true AI unsupervised models satisfy the optimal modeling characteristics. Most importantly, we show step by step how AI identifies and extracts signals from data.\",\"PeriodicalId\":53670,\"journal\":{\"name\":\"Journal of Portfolio Management\",\"volume\":\"49 1\",\"pages\":\"64 - 77\"},\"PeriodicalIF\":1.1000,\"publicationDate\":\"2023-07-06\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Portfolio Management\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.3905/jpm.2023.1.519\",\"RegionNum\":4,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q3\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Portfolio Management","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.3905/jpm.2023.1.519","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}

引用次数: 1

摘要

本文调查了机器学习从通过ChatGPT的线性回归到完全无监督学习的演变。我们以美国股市的简单直观例子说明了人工智能（AI）相对于传统方法的优势。我们还表明，人工智能的推断与经典的金融模型一致，例如资本资产定价模型。我们还描述了与机器学习不同，真正的人工智能无监督模型如何满足最佳建模特征。最重要的是，我们逐步展示了人工智能如何识别和提取数据中的信号。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

The AI Revolution: From Linear Regression to ChatGPT and beyond and How It All Connects to Finance

This article surveys the evolution of machine learning from linear regression through ChatGPT to fully unsupervised learning. We illustrate the advantages of artificial intelligence (AI) over traditional methods with simple intuitive examples for the US equities markets. We also show that the AI inferences are consistent with classical finance models, such as the capital asset pricing model. We also describe how, unlike machine learning, true AI unsupervised models satisfy the optimal modeling characteristics. Most importantly, we show step by step how AI identifies and extracts signals from data.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Journal of Portfolio Management Economics, Econometrics and Finance-Finance

CiteScore

2.20

自引率

28.60%

发文量

113

期刊介绍： Founded by Peter Bernstein in 1974, The Journal of Portfolio Management (JPM) is the definitive source of thought-provoking analysis and practical techniques in institutional investing. It offers cutting-edge research on asset allocation, performance measurement, market trends, risk management, portfolio optimization, and more. Each quarterly issue of JPM features articles by the most renowned researchers and practitioners—including Nobel laureates—whose works define modern portfolio theory.