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AI\u6642\u4ee3\u7684\u300c\u963f\u723e\u6cd5\u7126\u616e\u300d<\/h2>\n

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\u6f14\u7b97\u6cd5\u8da8\u540c\u8207\u7cfb\u7d71\u6027\u8106\u5f31<\/h2>\n

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\u6b63\u56e0\u5982\u6b64\uff0c\u7b46\u8005\u63d0\u51fa\u300c\u8ca0\u8cac\u4efb\u7684\u963f\u723e\u6cd5\u300d\uff08responsible alpha\uff09\u9019\u500b\u6982\u5ff5\u3002\u672a\u4f86\u6709\u50f9\u503c\u7684\u963f\u723e\u6cd5\uff0c\u4e0d\u61c9\u53ea\u662f\u5728\u77ed\u671f\u5167\u8dd1\u8d0f\u5e02\u5834\uff0c\u800c\u61c9\u7f6e\u65bc\u53ef\u89e3\u91cb\u3001\u53ef\u5be9\u8a08\u3001\u53ef\u5e72\u9810\uff0c\u4e14\u4e0d\u81f4\u904e\u5ea6\u653e\u5927\u7cfb\u7d71\u6027\u98a8\u96aa\u7684\u908a\u754c\u5167\u3002\u63db\u8a00\u4e4b\uff0c\u300c\u8ca0\u8cac\u4efb\u7684\u963f\u723e\u6cd5\u300d\u4e0d\u628a\u98a8\u96aa\u63a7\u5236\u8996\u70ba\u9644\u5e36\u689d\u4ef6\uff0c\u800c\u662f\u628a\u53ef\u7ba1\u6cbb\u6027\u5167\u751f\u70ba\u963f\u723e\u6cd5\u7684\u4e00\u90e8\u5206\u3002\u7576\u4fe1\u865f\u63d0\u53d6\u65e5\u76ca\u5546\u54c1\u5316\uff0c\u771f\u6b63\u7a00\u7f3a\u7684\u80fd\u529b\uff0c\u5c07\u4e0d\u518d\u53ea\u662f\u5efa\u51fa\u66f4\u4e0d\u900f\u660e\u7684\u9ed1\u76d2\uff0c\u800c\u662f\u8b49\u660e\u81ea\u5df1\u7684AI\u4f55\u4ee5\u53ef\u4fe1\uff1a\u5b83\u7528\u4e86\u4ec0\u9ebc\u6578\u64da\u3001\u7d93\u904e\u4ec0\u9ebc\u5de5\u4f5c\u6d41\u7a0b\u3001\u8ab0\u53ef\u4ee5\u8986\u6838\u3001\u51fa\u4e86\u554f\u984c\u8ab0\u80fd\u4e2d\u6b62\u3002\u7576\u963f\u723e\u6cd5\u6108\u4f86\u6108\u50cf\u53ef\u8907\u88fd\u7684\u516c\u5171\u6280\u8853\uff0c\u7ba1\u6cbb\u80fd\u529b\u3001\u5be9\u8a08\u80fd\u529b\u8207\u4eba\u624b\u4ecb\u5165\u80fd\u529b\uff0c\u53cd\u800c\u53ef\u80fd\u6210\u70ba\u65b0\u7684\u79c1\u4eba\u8b77\u57ce\u6cb3\u3002\u3010\u8a3b5\u3011<\/p>\n

\u9999\u6e2f\u8fd1\u5169\u5e74\u7684\u653f\u7b56\u65b9\u5411\uff0c\u6070\u597d\u70ba\u9019\u7a2e\u300c\u8ca0\u8cac\u4efb\u7684\u963f\u723e\u6cd5\u300d\u63d0\u4f9b\u4e86\u5236\u5ea6\u571f\u58e4\u30022024\u5e748\u6708\uff0c\u9999\u6e2f\u91d1\u878d\u7ba1\u7406\u5c40\u806f\u540c\u6578\u78bc\u6e2f\u63a8\u51fa\u9996\u500b\u300c\u751f\u6210\u5f0f\u4eba\u5de5\u667a\u80fd\u6c99\u76d2\u300d\uff0c\u660e\u78ba\u63d0\u51fa\u4ee5\u98a8\u96aa\u70ba\u672c\u7684\u539f\u5247\uff0c\u5f37\u8abf\u9ad8\u98a8\u96aa\u6c7a\u7b56\u9808\u4fdd\u7559\u300c\u4eba\u5728\u74b0\u4e2d\u300d\uff08human-in-the-loop\uff09\u6a21\u5f0f\u30022025\u5e748\u6708\uff0c\u570b\u969b\u7d50\u7b97\u9280\u884c\uff08BIS\uff09\u5275\u65b0\u6a1e\u7d10\u9999\u6e2f\u4e2d\u5fc3\u3001\u91d1\u7ba1\u5c40\u8207\u82f1\u570b\u91d1\u878d\u884c\u70ba\u76e3\u7ba1\u5c40\u63a8\u51fa Noor\u9805\u76ee\uff0c\u805a\u7126\u65bc\u751f\u6210\u5f0fAI\u53ca\u9ad8\u7d1a\u7b97\u6cd5\u6a21\u578b\u5728\u91d1\u878d\u9ad4\u7cfb\u7684\u61c9\u7528\uff0c\u4ee5\u89e3\u6c7aAI\u53ef\u89e3\u91cb\u6027\uff08explainability\uff09\u96e3\u984c\u3002\u9019\u610f\u5473\u76e3\u7ba1\u601d\u8def\u5df2\u4e0d\u53ea\u8981\u6c42\u6a5f\u69cb\u89e3\u91cbAI\uff0c\u800c\u662f\u958b\u59cb\u63d0\u5347\u76e3\u7763\u8005\u672c\u8eab\u770b\u61c2\u9ed1\u76d2\u7684\u80fd\u529b\u3002\u52302026\u5e743\u6708\uff0c\u9999\u6e2f\u53c8\u628a\u6c99\u76d2\u5347\u7d1a\u70ba\u751f\u6210\u5f0f\u4eba\u5de5\u667a\u80fd\u6c99\u76d2++\uff0c\u5c07\u7bc4\u570d\u64f4\u5c55\u81f3\u8b49\u5238\u3001\u8cc7\u7522\u7ba1\u7406\u3001\u4fdd\u96aa\u53ca\u5f37\u7a4d\u91d1\u7b49\u9818\u57df\uff0c\u4ee4\u6c99\u76d2\u4e0d\u518d\u53ea\u662f\u8a66\u9a57\u5834\uff0c\u800c\u662f\u76e3\u7ba1\u8005\u8207\u5e02\u5834\u5171\u540c\u754c\u5b9a\u5b89\u5168\u908a\u754c\u7684\u5236\u5ea6\u5de5\u7a0b\u3002<\/p>\n

\u7576\u7136\uff0c\u6c99\u76d2\u7684\u63a8\u51fa\u4e0d\u80fd\u53ea\u662f\u4e00\u500b\u5c55\u793a\u5275\u65b0\u7684\u62db\u724c\uff0c\u800c\u662f\u8981\u6210\u70ba\u9a57\u8b49\u7ba1\u6cbb\u80fd\u529b\u7684\u8a66\u9a57\u5834\u3002\u5c0d\u4ee3\u7406\u5f0fAI\u8207\u91cf\u5316\u6a21\u578b\u800c\u8a00\uff0c\u771f\u6b63\u8981\u6e2c\u8a66\u7684\uff0c\u4e0d\u53ea\u662f\u6a21\u578b\u6e96\u78ba\u7387\uff0c\u800c\u662f\u6574\u689d\u98a8\u96aa\u7ba1\u7406\u93c8\uff1a\u6578\u64da\u80fd\u5426\u8ffd\u6eaf\u3001\u7248\u672c\u66f4\u65b0\u6709\u5426\u7559\u75d5\u3001\u58d3\u529b\u60c5\u666f\u4e0b\u6703\u5426\u540c\u6b65\u64a4\u55ae\u3001\u6a21\u578b\u6f02\u79fb\uff08model drift\uff09\u80fd\u5426\u53ca\u6642\u767c\u73fe\uff0c\u5fc5\u8981\u6642\u80fd\u5426\u7531\u4eba\u624b\u4ecb\u5165\u6216\u7dca\u6025\u505c\u7528\u3002\u672a\u4f86\u8cc7\u7522\u7ba1\u7406\u696d\u7684\u7af6\u722d\uff0c\u6bd4\u62fc\u7684\u4e0d\u53ea\u662f\u6a21\u578b\u9810\u6e2c\u529b\uff0c\u4e5f\u662f\u5728\u6bd4\u62fc\u6a5f\u69cb\u80fd\u5426\u628a\u6a21\u578b\u98a8\u96aa\u7d0d\u5165\u7ba1\u6cbb\u6846\u67b6\u4e4b\u5167\u3002<\/p>\n

\u4ee5\u63d0\u5347\u963f\u723e\u6cd5\u7684\u53ef\u4fe1\u5ea6\u70ba\u76ee\u6a19<\/h2>\n

\u4e0b\u4e00\u8f2a\u91d1\u878d\u7af6\u722d\uff0c\u6bd4\u62fc\u7684\u66f4\u4e0d\u53ea\u662f\u8ab0\u66f4\u65e9\u7528\u4e0aAI\uff0c\u800c\u662f\u8ab0\u80fd\u66f4\u65e9\u8b49\u660e\uff1a\u81ea\u5df1\u7684AI\u5728\u8cfa\u9322\u6642\u53ef\u9760\uff0c\u5728\u5931\u9748\u6642\u53ef\u63a7\u30022025\u5e74\u4e16\u754c\u7d93\u6fdf\u8ad6\u58c7\u767d\u76ae\u66f8\u63d0\u9192\uff0c\u8a31\u591a\u6a5f\u69cb\u5176\u5be6\u4ecd\u8655\u65bc\u7531\u8a66\u9a57\u8d70\u5411\u898f\u6a21\u5316\u843d\u5730\u7684\u904e\u6e21\u968e\u6bb5\uff1b\u771f\u6b63\u6c7a\u5b9a\u6210\u6557\u7684\uff0c\u5f80\u5f80\u4e0d\u662f\u6a21\u578b\u672c\u8eab\uff0c\u800c\u662f\u4fe1\u4efb\u3001\u81ea\u6211\u7ba1\u6cbb\u3001\u4eba\u624d\u3001\u7db2\u7d61\u5b89\u5168\u8207\u6578\u78bc\u57fa\u5efa\u662f\u5426\u5230\u4f4d\u3002\u3010\u8a3b8\u3011\u5f9e\u9019\u500b\u89d2\u5ea6\u770b\uff0c\u9999\u6e2f\u7684\u6f5b\u5728\u512a\u52e2\uff0c\u4e0d\u50c5\u5728\u65bc\u66f4\u65e9\u90e8\u7f72AI\uff0c\u66f4\u5728\u65bc\u66f4\u65e9\u7684\u628a\u6a21\u578b\u6cbb\u7406\u3001\u58d3\u529b\u6e2c\u8a66\u3001\u5be9\u8a08\u8ecc\u8de1\u8207\u4eba\u624b\u4ecb\u5165\u6a5f\u5236\uff0c\u9010\u6b65\u5236\u5ea6\u5316\u70ba\u8de8\u5e02\u5834\u3001\u8de8\u76e3\u7ba1\u3001\u8de8\u6a5f\u69cb\u7684\u5171\u540c\u8a9e\u8a00\u3002<\/p>\n

\u6b78\u6839\u7a76\u67e2\uff0c\u82e5\u5e02\u5834\u6700\u7d42\u628a\u900f\u660e\u5ea6\u3001\u53ef\u554f\u8cac\u6027\u8207\u7ba1\u6cbb\u6210\u719f\u5ea6\u8996\u70ba\u503c\u5f97\u4ed8\u8cbb\u7684\u5c6c\u6027\uff0c\u90a3\u9ebc\u300c\u4fe1\u4efb\u300d\u672c\u8eab\uff0c\u4fbf\u53ef\u80fd\u6210\u70ba\u4e0b\u4e00\u4ee3\u570b\u969b\u91d1\u878d\u4e2d\u5fc3\u6700\u91cd\u8981\u7684\u7121\u5f62\u8cc7\u7522\u3002\u9999\u6e2f\u8981\u5c0b\u627e\u7684\uff0c\u4e0d\u53ea\u662f\u66f4\u9ad8\u7684\u963f\u723e\u6cd5\uff0c\u800c\u662f\u66f4\u503c\u5f97\u5168\u7403\u8cc7\u672c\u4fe1\u4efb\u7684\u963f\u723e\u6cd5\u3002<\/p>\n

\u8a3b1\uff1aAldridge, I., An, J., Burke, R., Cao, M., Chien, C. Y., Deng, K., … & Zheng, W. (2025). Agentic artificial intelligence in finance: A comprehensive survey<\/em> [Working paper].<\/p>\n

\u8a3b2\uff1aCohen, L., Lu, Y., & Nguyen, Q. H. (2026). Mimicking finance<\/em> (NBER Working Paper No. 34849). National Bureau of Economic Research.<\/p>\n

\u8a3b3\uff1aDou, W. W., Goldstein, I., & Ji, Y. (2025). AI-powered trading, algorithmic collusion, and price efficiency<\/em> (NBER Working Paper No. 34054). National Bureau of Economic Research.<\/p>\n

\u8a3b4\uff1aGu, S., Kelly, B., & Xiu, D. (2020). Empirical asset pricing via machine learning. The Review of Financial Studies<\/em>, 33<\/em>(5), 2223\u20132273.<\/p>\n

\u8a3b5\uff1aFabozzi, F. A., & L\u00f3pez de Prado, M. (2025). Implementing AI Foundation Models in Asset Management: A Practical Guide.\u00a0Journal of Portfolio Management<\/em>,\u00a052<\/em>(2).<\/p>\n

\u8a3b6\uff1aMo, H., & Ouyang, S. (2025). (Generative) AI in financial economics. Journal of Chinese Economic and Business Studies<\/em>, 23<\/em>(4), 509\u2013587.<\/p>\n

\u8a3b7\uff1aInternational Monetary Fund. (2024). Global financial stability report<\/em>. https:\/\/www.imf.org\/-\/media\/files\/publications\/gfsr\/2024\/october\/english\/textrevised.pdf<\/a><\/span><\/p>\n

\u8a3b8\uff1aWorld Economic Forum. (2025). AI in action: Beyond experimentation to transform industry<\/em>. AI Governance Alliance, in collaboration with Accenture.<\/p>\n

\u5b5f\u5a67\u6db5\u535a\u58eb<\/strong>
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