THE QUARTET

The world is at a new dawn with development in artificial intelligence (AI) and machine learning (ML). In this new age, AI will change industries and professions, enabling humans to work faster, better, and smarter. The geniuses behind AI and ML are the researchers, who relentlessly work to improve the ML models and AI innovations.

The United States of America (USA) is currently leading the world in AI innovations, and so are the US-based researchers; four US-based AI and ML researchers are SM Shamsul Arefeen, Abid Hasan Shimanto, Rafi Muhammad Zakaria, and Sarder Abdulla Al Shiam, who are also Bangladeshi. Three of them completed their master's at UMass Boston and one from St Francis College. They have been working together in artificial intelligence and machine learning research for years. "One of our primary goals is to create a dynamic investment portfolio optimisation tool that integrates real-time financial data with AI predictions. This tool will be able to assist investors in optimising their portfolios by suggesting the best mix of assets based on predicted trends in currency exchange rates and stock market movements," the team said about their goal.

These four individuals shared their interests, ideas, and experiences in a conversation. When asked about their research projects, Sarder Shiam said, "We are mainly focusing on the deep learning application and financial sector." They also focus on BRICS (an informal grouping of emerging economies -Brazil, Russia, India, China, and South Africa that aims to increase their influence in the global order and promote economic cooperation and development) economies. Rafi Muhammad emphasises, "We cannot hate the tool, blame the tool, worship the tool-it's all about how we'll make it serve our purpose," and they are researching AI, ultimately setting the goal to make the best use of AI tools in all kinds of financial institutions.

Shamsul Arefeen focuses on 'model evaluation and validation' and 'assessing performance by comparing the results of AI-driven models against traditional forecasting methods'; Rafi focuses on 'integration and application' and 'collaborating with financial institutions, regulators, and other stakeholders'; Abid Shimanto focuses on 'data acquisition and preprocessing' and 'collecting large amounts of data from various credible sources'; and Sarder Shiam focuses on 'model development and optimisation' and 'designing and implementing the AI and machine learning models used in the study' when collaborating in research projects.

The team said about their research's real-life implementation, "While our research is still being fine-tuned, we have worked on a financial risk analysis system that is currently under the early testing phase." They further said, "This system uses AI models to provide real-time risk assessments by analysing market trends, stock price movements, and other financial indicators. It's still in its testing phase but already showing promising results in identifying financial disruptions before they impact the market significantly."

"We intend to collaborate with Bangladeshi regulators and policymakers to help them improve the country's economic planning and decision-making processes using AI," the team said when asked about their plan to collaborate with Bangladeshi industries in the future.

Abid Hasan said that his NSU experience helped him 'bridge the gap between technology and business concepts'. The others, who studied at BUP, appreciated BUP's practical learning experiences and research-oriented approach that helped them in their fields. About their US education, they said that the research-oriented approach, hands-on learning, access to a global network of researchers, and supportive academic environment helped them enhance their research experiences. Sharing one of his experiences of participating in a seminar with his 'early understanding of financial forecasting with AI,' Shamsul said 'the questions and comments from seasoned academics' helped him see new perspectives.

"I recall working on a data set that modelled stock market trends during periods of high volatility. It was here that I learnt how AI models could adapt to the ever-changing financial landscape. This practical exposure helped me understand how to make theoretical models more applicable to real-world challenges," said Sarder Shiam about his experience at St Francis College.

The team also shared moments when they faced challenges and what kept them motivated. Rafi Muhammad Zakaria said, "Scaling is the first challenge I've faced." He also added, "Fortunately, through a solid guide from the university and peers, I've got the right people from the right industry, which helped me overcome the challenge." Abid Hasan shared that the cultural shock and being on his own in a foreign country were the most challenging factors for him.

Most people have encountered the fear of uncertainty in their work or educational fields, and it is something that we always relate to. Shamsul Arefeen shared how overcoming the fear was his biggest challenge. Once he overcame the fear, one of his accomplishments included participating in ICDS (International Conference on Intelligent Computing in Data Sciences) by IEEE (Institute of Electrical and Electronics Engineers) conferences, utilising the fear as a strength.

When conversing about their vision in respective fields, Rafi Muhammad said that his vision is to ensure "advanced and data-driven portfolio management asset management for our country." He said, "This will not only serve the affluent but also enable financial freedom to the middle class." Abid Hasan, on the other hand, aspires to build a centralised data server system in Bangladesh.

Shedding light upon Bangladeshi education and how it struggles to deliver the 'freedom of education' (i.e., from a choice of courses to various methods of studying a topic), Shamsul Arefeen shared the ambition to ensure the freedom of education in Bangladesh. He wants to contribute to the reformation of creative thinking in our country and develop a programme through which a new generation of intellectuals will come forward to support the development of Bangladesh.

This is how the team of these four amazing souls, SM Shamsul Arefeen, Abid Hasan, Rafi Muhammad, and Sarder Abdulla Al Shiam are working to build a better world, ensure financial inclusion, and uplift the industries.

Profiles of the four researchers, at a glance: SM Shamsul Arefeen completed Master's in Business Analytics at the University of Massachusetts, Boston. Before attending UMass Boston, he studied Accounting & Information Systems at the Bangladesh University of Professionals (BUP). He is currently an assistant manager of Operations Administration - Retail at Walgreens. In the meantime, he has already published 10 research papers and participated in the ICDS Conference, with research focus on artificial intelligence, machine learning, data and sustainability, and ecological footprint and public health management. This April, Shamsul will be attending UMass Boston for a career event as an industry expert to guide upcoming graduates into shaping their careers.

On the other hand, Abid Hasan Shimanto is currently an assistant manager of Operations Administration - Retail at Walgreens. He completed his undergraduate at North South University in Management Information Systems and studied Master's in Business Analytics at UMass Boston. During his undergraduate studies, he worked as a product management intern at Square Pharmaceuticals. Apart from these experiences, Abid Hasan Shimanto has already published nine research papers on data science, artificial intelligence, machine learning, and data analytics.

As for Rafi Muhammad Zakaria, he completed his bachelor's and master's at BUP in Finance and Banking and later studied Master's in Business Analytics at UMass Boston. He has already co-authored and published nine research papers in machine learning and artificial intelligence. He previously worked as a risk management intern at Bank Asia Limited and currently, he is a premier banker at Citizens Bank in the US.

Sarder Abdulla Al Shiam is still studying for a master's at St Francis College (State University of New York). He also completed his undergraduate from the Bangladesh University of Professionals (BUP). In addition, he has already published 40 research papers, and participated in two conferences, focusing research on machine learning, artificial intelligence, and public health management. He also wrote four book chapters and worked as an editor for a journal.

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