Professor Härdle on FinTech, Machine Learning, and the Future of Economics

In an engaging conversation at Fudan University, Professor Wolfgang Härdle reflected on the role of machine learning and data science in modern economics. He emphasized that FinTech is essentially about handling complex, high-dimensional data, where statistical and machine learning methods become indispensable. Härdle distinguished between “algorithms” and “models,” noting that while models rely on assumptions, algorithms flexibly uncover patterns from data. Looking ahead, he highlighted the transformative potential of machine learning in economic research, financial risk management, and policy design—while also reminding students that curiosity, critical thinking, and cross-disciplinary skills are at the heart of meaningful research.