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The Data Exchange with Ben Lorica
Building the Future of Finance: Inside AI Valuation Bots
Nov 14, 2024
Vasant Dhar, a professor at NYU's Stern School of Business, shares insights on the intersection of AI and finance. He discusses the Damodaran Bot, which emulates valuation methods of a finance legend. The conversation explores the transformative role of AI in financial analysis, like the integration of narratives and quantitative data. Dhar probes the complexities of valuing tech companies and the challenges of maintaining accuracy in AI assessments. Listeners also gain insights into innovative AI tools shaping the future of finance.
37:45
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Quick takeaways
- The Damodaran bot integrates quantitative data with narrative insights to enhance financial analysis and valuation methodologies.
- AI systems like the Damodaran bot face challenges in replicating human reasoning, highlighting the need for robust logic and structured data processing.
Deep dives
The Genesis of the Damodaran Bot
The discussion reveals how the idea for the Damodaran bot originated from Vasant Dar's early experiences with machine learning in finance. In 2015, he proposed creating a predictive model based on the work of renowned finance professor Aswath Damodaran, but at that time, the technology and data were insufficient for such an endeavor. With the advancements in natural language processing and abundant training data, Dar revisited this concept and collaborated with Damodaran to create a bot that emulates his valuation methods. This collaborative effort is driven by the intention to combine quantitative data with narrative insights in financial analysis.
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