Joint inaugural address by Prof. Melanie Schienle (ECON) and Prof. York Sure-Vetter (AIFB)
ai.conometrics - dream or drama?
In our talk we define ai.conometrics as the application of Econometrics and Artificial Intelligence (AI) on Economic data.
Econometrics employs and develops statistical methods for prediction, inference and causal modeling of economic relationships. The abundance and complexity of e.g. high-frequency financial data requires new strategies for extracting information about the design and functioning of markets and the behavior of their participants.
AI recently has seen a number of success stories such as winning a Go game against the human champion - which has surprised even AI experts. Many people now believe that the raise of intelligent advisors for all kinds of domains is in reach.
We will jointly present an overview of the two fields Econometrics and AI and then address the question: Has ai.conometrics the potential to fulfill a dream or will it end as a drama?