Skip to content
English

Switch theme

Social sciences · OECD FoS 5.2 · China MoE 020204 金融学

Finance

金融学

L2Local breakthroughs → Steady Score 2.45 · Last reviewed 2026-10-21 · Next review 2027-01-19

BIGGEST BREAKTHROUGH 2020-02-26 AI · majorField · major

Gu, Kelly & Xiu: Empirical asset pricing via ML (RFS) ↗

ML roughly doubles Sharpe ratios; a method advance, not a new theory

Why this level

ML asset pricing (Gu, Kelly & Xiu, RFS 2020) is a mainstream empirical method; quant and risk use is widespread, while LLMs remain assistive.

Research method 3Scientific discovery 2Practitioner adoption 3Education & curriculum 1
Research method ×0.33/4

Machine-learning asset pricing is one of the mainstream methods in empirical finance · source ↗

Scientific discovery ×0.352/4

ML markedly improves return prediction (RFS 2020), but no disruptive new theory

Practitioner adoption ×0.253/4

FCA / Bank of England 2026 survey: 86% of UK financial firms use AI · source ↗

Education & curriculum ×0.11/4

No course evidence found

S = 0.30·method + 0.35·discovery + 0.25·adoption + 0.10·education (education scores 0 when there is no evidence; if empty, the other weights are renormalised)

Sources

Composite 1.5–2.49: at least one peer-reviewed/officially verified AI-key result, or one dimension at 3; routine workflow largely unchanged. All levels →

Research directions

ML asset pricingAlternative dataFinancial LLMs

Papers

Milestones 6

Big glowing nodes are leaps: AI leap cool · Field leap warm · double ring = both

  1. Paper

    Chen, Pelger & Zhu: Deep Learning in Asset Pricing (Management Science)

    Embeds no-arbitrage in deep nets; representative ML asset-pricing work

    Management ScienceTo be verified
  2. Paper

    Kelly, Malamud & Zhou: The Virtue of Complexity in Return Prediction (J. Finance)

    Theory and evidence that highly over-parameterised models improve return prediction

    The Journal of Finance
  3. Paper

    Can ChatGPT forecast stock price movements? (arXiv 2304.07619)

    LLM headline reading predicts returns; heavily followed up

    arXivPreprint
  4. System

    BloombergGPT financial LLM

    First large finance-specific LM

    arXivPreprint
  5. Paper

    Gu, Kelly & Xiu: Empirical asset pricing via ML (RFS)

    ML roughly doubles Sharpe ratios; a method advance, not a new theory

    Review of Financial Studies
More papers & repos 5

Latest news 12

Data updated: AI × disciplines(UTC+8)