The pre-conference workshop on the application of AI and ML in Economics and Finance is designed to provide conference participants with hands-on experience and insights that are directly applicable to their research or professional work. The workshop includes the following aspects:

Workshop Title: Harnessing AI and Machine Learning in Economics and Finance

Date: 27 March, 2025

Duration: From 10 AM to 5PM

Objectives:

• Understand the fundamentals of AI and machine learning.
• Explore specific applications in economics and finance.
• Provide hands-on experience with relevant tools and techniques.
• Discuss ethical considerations and future trends.

Agenda:

1. Introduction to AI and Machine Learning

• • • Definitions and key concepts
    • Overview of machine learning algorithms
    • Differences between AI, ML, and traditional statistical methods

2. Applications in Economics

• • • Predictive analytics for economic indicators
    • AI in macroeconomic forecasting
    • Case studies: Impact of AI on labor markets and consumer behavior

3. Applications in Finance

• • • Algorithmic trading and portfolio management
    • Credit scoring and risk assessment using ML
    • Fraud detection with AI techniques
    • Case studies from financial institutions

4. Hands-on Session: Building a Simple ML Model

• • • Tools: Python and relevant libraries (e.g., scikit-learn, TensorFlow)
    • Dataset: Use a public financial dataset
    • Step-by-step guide to building, training, and evaluating a model

5. Ethical Considerations and Challenges

• • • Bias in AI models and its implications
    • Data privacy concerns
    • Regulatory considerations in finance

6. Future Trends in AI/ML in Economics and Finance

• • • Emerging technologies (e.g., reinforcement learning, blockchain)
    • The role of AI in sustainable finance

Prerequisites:

• Basic understanding of economics or finance
• Familiarity with programming (preferably Python) is beneficial but not mandatory