The 7th Capital Economic Forum was Held

On December 1st, the 7th Capital Economic Forum was held, hosted by BNUBS. The theme of this forum is "Empowering Economic Management Decision Making with Artificial Intelligence". More than ten scholars and industry representatives from well-known universities in capital cities such as Beijing, Washington, Tokyo, London, Mumbai, etc. gave keynote speeches at the forum. The forum has a main offline venue in Beijing and a parallel venue on the ZOOM platform, attracting over 150000 viewers to participate online simultaneously.

The main venue in the morning was presided over by Professor Hu Conghui, Associate Dean of BNUBS. Professor Sun Zhijun, Secretary of the School Party Committee, and Professor Fran Camille from the Kogod Business School, American University, delivered speeches respectively. Sun Zhijun warmly welcomed the attendance of all the guests and expressed gratitude to friends from all walks of life who have always cared about and supported the development of BNUBS. New technologies such as artificial intelligence have greatly enhanced humanity's ability to understand and transform the world, while also bringing opportunities and challenges. The topic of this forum reflects the School's profound insight into the current trend of technological development and its firm belief in promoting the digital transformation of the management discipline. Professor Carmel, as one of the initiators of the Capital Economic Forum, delivered a speech on the theme of "AI Report" and predicted the development trend of artificial intelligence in the United States during the next presidential term, based on the just concluded US election.

Speech by Professor Sun Zhijun, Secretary of the Party Committee of BNUBS

Speech by Professor Fran Camille from the American Business School

Associate Dean Professor Hu Conghui presided over the opening ceremony of the forum

The morning keynote speech is divided into two stages, with Hu Conghui presiding over the first stage's keynote speech segment. Professor Tang Ke, Dean of Zhishan Academy at Tsinghua University, delivered a keynote speech on the topic of "Teaching Economics to the Machines". He pointed out that the arrival of the AI era has provided us with massive amounts of data and models, but what are the underlying logic and theories that support these data? How should we combine economic theory with practical data in order to better utilize theoretical analysis of data. It covers how to apply known economic models to the field of machine learning through transfer learning, the application and challenges of artificial intelligence in economic research, and the technical issues that may arise during model construction.

Professor Tang Ke gave a keynote speech

Alberto Rossi, a finance professor at Georgetown University Colorado School of Business in the United States, gave a presentation titled "The Present and Future of Robot-advice", focusing on the past, present, and future of robot investment advisors, as well as how advanced analytical techniques can solve problems in the financial field and decision-making processes.

Professor Alberto Rossi delivered a keynote speech online

Professor Tan Yinliang from the University of Houston and the China Europe International Business School gave a presentation on "Artificial Intelligence and Business Transformation". He pointed out that artificial intelligence, as an important driving force for the new round of technological revolution and industrial transformation, has not only reshaped the operation mode of traditional industries, but also spawned a large number of emerging industries and business models. The artificial intelligence revolution is a disruptive technological revolution that is bound to have even more profound impacts.

Professor Tan Yinliang delivered a keynote speech

The keynote speech of the second stage was hosted by Associate Professor Xu Minbo, the head of the Economics Department of the School. Professor Horiyoshi, Vice President of Sakura Meirin University in Japan, gave a presentation. Professor Hori's presentation is titled "Recent Trends in ICT Utilization, Digital Transformation, and AI Utilization in Japanese SMEs", focusing on the current situation and challenges of Japan's small and medium-sized enterprises in the process of digital transformation and development, taking into account the characteristics of the post pandemic era and the country's declining population, severe aging, and labor shortage.

Professor Horiyoshi delivered a keynote speech

Li Xiang, the general manager of Baidu AI Cloud's innovation business department, shared under the title of "Cases of Artificial Intelligence in Business". He pointed out that the big model industry is ushering in an application explosion, but the landing still faces challenges such as landing scenario exploration, application development threshold, reasoning and training costs, and landing application effects. With the help of Baidu AI Cloud's leading edge in AI technology and years of technology accumulation, Baidu Intelligent Cloud would deeply explore the business transformation in AI enabled education, medical care, retail and other fields, comprehensively improve the business operation mode, and contribute to the creation of new quality productivity.

General Manager Li Xiang delivered a keynote speech

The afternoon forum was divided into two parallel forums and conducted simultaneously through online live streaming. Associate Professor Zheng Feihu served as the moderator for one session of the parallel forum. At the parallel forum session, Professor Wen Huichang from Seoul National University of Science and Technology gave the first speech. Professor Wen's speech topic is "The High tech Ecosystem: ABCD Technologies and Their Related Industries". His speech revolved around three aspects: "US China tensions and Trump strategy", "High tech ecosystem" and "China strategy", and provided important insights into technology and strategy (ABCD) in four areas: agility, benchmarking, convergence, and dedication.

Professor Wen Huichang's online speech

The speech by former president of Japan International University and honorary professor at Japan International University, Kase, titled "Sense Making in Action and Survival and Prosperity through Systematic Efficiency: Business level and Corporate level Strategy - A Longitudinal Analysis of Samuel Doria Medina's Management Trajectory", combined with the longitudinal analysis of Samuel Doria Medina's management trajectory, provided insights into decision-making strategies at the business and corporate levels in complex environments through the lens of Daichi Kojima.

Professor Kase's online speech

Professor Kumar Momaya from the Indian Institute of Technology gave a lecture titled "AI and Corporate Management: Emerging Findings from a Case of Public Sector Banks", which deeply integrated India's development reality and conducted an in-depth analysis of the current development status of the country's banking industry. At the same time, he compared the importance of technologies such as ChatGPT, IoT, and Blockchains to the development of the banking industry, and finally drew some inspirations for the development of the banking industry and the promotion of economic development in India and Asian countries. He pointed out that India faces many opportunities and challenges in corporate innovation, and the competitiveness of the country and enterprises needs to be improved. It is necessary to utilize emerging technologies, strengthen global cooperation, improve innovation models, and increase research and development investment to achieve sustained economic growth and play a greater role in the global economy.

Professor Kumar Momaya's online speech

Savirio Romeo, Senior Lecturer at Baker College, University of London, discussed the topic of "The Use of Generative AI in Small Businesses" from several aspects, including research background, sample description and analysis, and conclusions. He pointed out that generative artificial intelligence tools have become a part of daily work and life, and the application of generative artificial intelligence has improved employee performance.

Savirio Romeo's online speech

At Parallel Forum 2, Assistant Professor Xu Wenzhen from Hitotsubashi University in Japan shared the topic of "From Big Data to Human Centered AI: Navigating Japanese Innovation in Smart City and HR Solutions". He combined the specific practices of major Japanese companies in empowering economic management decisions with artificial intelligence, and focused on the application of "Persuasive Technology" in intelligent management. He also provided possible development directions for this technology in the future, as well as the potential social and moral concerns that Persuasive AI may generate in changing human behavior.

Dr. Xu Wenzhen's online speech

Chen Zeyang, an assistant professor of Renmin University of China, gave an introduction on China's aging population and pension system with the title of "Nudging to Save: Two Field Experience of China's Personal Pension Program". He pointed out that there is still a problem of "low participation" in China's pension system, but this is also a common challenge faced by voluntary pension plans worldwide.

Dr. Chen Zeyang's online speech

Assistant Professor Ouyang Shumiao from Oxford University gave a presentation on "How Ethical Should AI Be? How AI Alignment Shapes the Risk Preferences of LLMs", focusing on the "decision-making process of the human brain" and "decision-making and analysis of big language models", highlighting that both are influenced by the "Risk Preference" factor in their decision-making process. He pointed out that Large Language Models (LLMs) are not ethically neutral, and alignment has a significant impact on financial decision-making, and the degree of alignment needs to be carefully calibrated according to specific financial applications.

Dr. Ouyang Shumiao's online speech

Assistant Professor Wang Xue from BNUBS gave a lecture titled "Boundary Theory and AI: How Role Integration Affects Consumer AI Adoption", focusing on the different roles that ordinary people play in their lives, and how each person's level of integration into different roles affects their consumption behavior, especially how it affects their acceptance of new technologies. This provides us with a fresh perspective on understanding the choices of AI.

Dr. Wang Xue's online speech

This forum brought together elites from various fields of academia and business at home and abroad. Through multiple keynote speeches, discussions and exchanges were held around the new trends, opportunities, and challenges of the development and application of artificial intelligence in the field of economic management. A large number of cutting-edge research results and successful cases were shared, providing important references for the formulation and implementation of policies related to artificial intelligence technology, and injecting new vitality and momentum into promoting the sustained and healthy development of the capital's economy.

Contributed by Office of International Exchange and Cooperation

Edited by Xie Jia

Reviewed by Hu Conghui