Aryan Sharma, a recent graduate from Apeejay Stya University, Gurugram, believes that research allows for the exploration of new ideas and solutions, contributing significantly to both academic knowledge and practical applications in the finance sector.
Recently, he co-authored a research paper with one of his faculty members Neha Thakur, Assistant Professor, School of Management Sciences at Apeejay Stya University. The paper was titled ‘Ethical Considerations in AI-driven Financial Decision Making’.
Sharing his thoughts on the research work, Aryan in this interview explained how he started this journey and how mentors at Apeejay helped him execute the work. Read edited excerpts:
When did you start with this research project?
I began this research project on April 8, 2024. The focus of my research is on the ethical considerations in AI-driven financial decision-making. The paper explores potential risks and benefits of integrating AI into financial processes and proposes guidelines to ensure ethical AI implementation. This topic is particularly relevant given the increasing reliance on AI in various sectors, including finance.
How long did it take you to work on this from start to end?
The research project took approximately two and a half months from start to finish. The journey involved:
– Literature Review: Reading and analysing 25-30 research papers to identify gaps in existing knowledge.
– Data Collection and Analysis: Gathering and scrutinising relevant data to support the research hypotheses.
– Mentor Feedback: Regular consultations with Ms. Neha Thakur to refine the research questions, methodology, and overall structure.
– Plagiarism Check and Editing: Ensuring the paper’s originality and addressing plagiarism issues (initially 17%) before final submission.
– Presentation: Presenting the research abstract at the National Conference of Multidisciplinary Studies held on May 3, 2024, at Apeejay School of Management.
– Publication: Submitting the final paper, which was published in the Journal of Modern Perspectives in Management (JMPP), an online journal indexed in EBSCO, ProQuest, CrossRef, Google Scholar, and Indian Citation Index.
Two challenges to keep in mind when conducting research work.
1. Maintaining Objectivity: Ensuring that the research findings are unbiased and based solely on empirical evidence.
2. Managing Time Effectively: Balancing the research workload with other academic responsibilities and deadlines.
How did mentors at Apeejay help you to execute this?
Ms. Neha Thakur, my mentor, played a crucial role in the successful execution of this research. She helped in:
– Formulating Research Questions: Refining the focus of the research to address significant gaps in existing literature.
– Methodological Guidance: Providing insights into appropriate research methodologies and data analysis techniques.
– Critical Feedback: Offering constructive criticism and suggestions to improve the quality of the paper.
– Plagiarism Checks: Assisting in identifying and addressing issues related to plagiarism to ensure the originality of the work.
What is your next plan?
My next plan is to continue my research journey by writing more papers and contributing to academic literature. I am also looking to gain practical experience through internships or job opportunities in the finance sector. My long-term goal is to explore further dimensions of AI in finance and collaborate with other researchers to address pressing issues in this field.