The theory-practice relationship (in finance) after artificial intelligence

Name of applicant

Jakob Arnoldi

Title

Professor

Institution

Aarhus University

Amount

DKK 225,600

Year

2022

Type of grant

Field Trips / Research Stays >100,000

Summary

Scientific, theory based, knowledge is used extensively in professions such as medicine, finance, marketing, engineering etc. However, a gap between theory (or science) and professional practice also exists with professionals developing routines and habits that are not based on science. This has raised discussions both about quality standards and about the relevance of higher education. Now. the already complicated relationship between theory and practice stands to be further complicated by the rise of artificial intelligence (AI). AI based knowledge is significantly different in nature from traditional theoretical knowledge, among other things because it often offers little explanation for its results. The study investigates how such opaque knowledge is used in practice.

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