University of Economics – Varna

Challenges and potential for application of artificial intelligence were discussed by experts from UE – Varna and FSC

On 10 and 11 September 2020, a two-day SUP-TECH session for knowledge exchange between the experts of the University of Economics – Varna and of the Financial Supervision Commission was held in an electronic environment, dedicated to artificial intelligence, market risk and robo-advisory.

The event is the second of a total of three knowledge sharing sessions on the topics of big data (2019), artificial intelligence (2020), blockchain (forthcoming). The SUP-TECH sessions are held within the FIN-TECH project "A FINancial supervision and TECHnology compliance training program", funded by the HORIZON 2020 program, in which the University of Economics – Varna and the FSC represent Bulgaria.

During the first day of the session, the discussion focussed on portfolio management strategies, the challenges and benefits of Robo Advisory and the application of artificial intelligence to Robo Advisory. Presentations were given by Assoc. Prof. Dr. Silvia Parusheva and Ch. Assistant Professor Dr. Yanka Alexandrova (Department of Informatics), Assoc. Prof. Nedyalko Vulkanov (Department of Finance).

The second day of the knowledge-sharing session was devoted to the presentation of market risk, areas of sovereign risk in Europe during and after debt, as well as the existence or absence of a link between cryptocurrencies and Forex. Presentations were made by Ch. Assistant Professor Dr. Lubomir Lyubenov and Chief Assoc. Prof. Dr. Dimitria Karadimova (Department of Statistics and Applied Mathematics), Assoc. Prof. Dr. Nedyalko Valkanov (Department of Finance). Assoc. Prof. Dr. Silvia Parusheva and Chief Assistant Dr. Yanka Alexandrova also participated, PhD student Petar Dimitrov (Department of Informatics).

The event aroused great interest among the representatives of the FSC - it was attended by over 20 specialists and experts from various departments and divisions of the commission. The extremely interesting program provoked discussions and interest in portfolio management strategies and in particular Robo advisors. The legal challenges were also presented and described in detail. Another main topic of discussion was the search for explicable artificial intelligence models and their evaluation from the point of view of the regulator.

15 Sep 2020