AI meets experiential learning: turning the impossible into reality
Picture this: developing a bespoke financial advising chatbot, one that speaks directly to the heart of underserved communities; designing an Internet-of-Things (IoT) system that tenderly tracks the growth of crops in the vast, untamed lands of Nunavut; guiding foreign-educated nurses as they weave their experiences into resumes that resonate with the pulse of the Canadian healthcare system; or breathing life into an automated data-cleaning system for FINTRAC, the Financial Transactions and Reports Analysis Centre of Canada.
Each of these endeavours might seem like the work of seasoned experts; yet imagine them being brought to life by a class of undergraduate students, each of them new to the world of programming. This is the transformative power of experiential learning and artificial intelligence (AI), where curiosity converges with technology, turning what once seemed impossible into a tangible reality.
Innovative learning opportunities
In 2020, Telfer professors Samir Saadi and Qianru Cheryl Qi, with support from Matt Archibald, Director of undergraduate studies, embarked on designing a groundbreaking FinTech and RegTech course for the Telfer School of Management. Their vision was clear: to equip Telfer students for the rapid technological disruptions reshaping the financial industry and its regulators. Recognizing the growing importance of soft skills in this ever-evolving landscape, they chose an experiential learning approach, confident it was the most effective way to nurture these essential abilities. The initiative received crucial funding from the Telfer School of Management and the University of Ottawa, along with a Telfer Education Excellence Fellowship grant from professor Miwako Nitani. Later, the team welcomed professor Adelphe Ekponon, who brought fresh perspectives and further enriched the course.
Support experiential learning and other initiatives at Telfer by contributing the to the Telfer Nation Fund. Designed to support students through experiential learning, student wellness, and school clubs and activities, the Telfer Nation Fund provides flexible funding that goes towards a variety of immediate student needs and helps make the Telfer experience one of a kind.
The collaborative and well-supported approach to experiential learning has truly paid off. Through hands-on, real-world projects, students have developed critical thinking, embraced continuous learning, honed public speaking, mastered teamwork, and sharpened their problem-solving skills. Remarkably, many even taught themselves programming along the way. With the advent of ChatGPT, this journey has only accelerated, enabling students to achieve feats once thought beyond their reach.
Over time, the impact of this experiential learning approach has extended beyond the classroom. The reflections drawn from teaching these classes inspire faculty to explore and research innovative educational methodologies.
As the advantages of AI have become clear, so too have the challenges it presents. ChatGPT, in particular, has proven to be a double-edged sword. While creative, self-motivated students excel in the unstructured environment it creates, making remarkable strides, those who are more inclined to follow established rules often find themselves overwhelmed. These contrasting experiences have sparked lively pedagogical discussions among Telfer faculty and inspired research projects aimed at understanding the impact of AI on higher education.
Professor Qianru Cheryl Qi was awarded uOttawa Library’s Open Education Resource Grant in 2023 to develop The Fintech Explorer: A Comprehensive Guide to Case Studies, Course Notes, and Emerging Trends, a collection of student-authored case studies that explore how emerging technologies can revolutionize the financial industry.
Building on this momentum, Professor Qi and undergraduate student Om Sant are currently developing an AI assistant for student fund managers at the Telfer Capital Fund. This tool, created by students and for students, embodies the spirit of this educational innovation, offering a practical solution that is both a product of and a contributor to their learning journey.
Creating solutions and shaping the future
The impact of this experiential learning approach extends far beyond the university, reaching into the broader community. Each class project is rooted in real-life challenges faced by community stakeholders. For instance, FINTRAC officers grapple with the time-consuming task of matching names with minor typos across different bank reports. CARE International, which supports nurse organizations, faces inefficiencies as case managers spend most of their time revising members’ resumes. Entrepreneurs in Nunavut struggle with the extreme cold, which hampers their ability to manage vertical farming operations. The students' innovative ideas offer out-of-the-box solutions to each of these challenges, allowing these organizations to take prototypes back to their operations for further experimentation and development.
Moving forward, this forward-thinking approach to experiential learning and AI integration at Telfer is shaping a new generation of students who are not only prepared to meet the challenges of an evolving technological landscape but are actively contributing to solutions that impact both the university and the broader community. By embracing hands-on projects that tackle real-world problems, these students are transforming their education into a tool for meaningful change. With the continued support of visionary faculty members and innovative AI Assistants, the boundaries of what they can achieve are constantly being redefined. This evolving journey is a testament to the power of combining curiosity, technology, and community engagement in higher education, fostering not just academic growth but a lasting, tangible impact on the world beyond the classroom.
This article was written by Professor Qi.
Qianru (Cheryl) Qi is an Associate Professor of Finance in the Telfer School of Business at the University of Ottawa. Prior to joining Telfer, Professor Qi has conducted research and taught in the Stern School of Business at New York University, the Pratt School of Engineering at Duke University, and Fudan University, Shanghai, China. She has also served as a consultant for Morgan Stanley, New York and Citigroup, Shanghai
Professor Qi is a financial economist who primarily studies financial and insurance technology. In addition, she studies the role technology plays in eliminating the inefficiencies in highly regulated industries such as banking, healthcare, and education. Her work has appeared in leading academic journals including Management Science and the Journal of Financial and Quantitative Analysis. Her research has been supported by the Social Sciences and Humanities Research Council of Canada, the National Science Foundation in the U.S., the Chinese National Science Foundation and twelve other national-level grants.
Professor Qi received her PhD in Financial Economics from Purdue University, her MS in Applied Mathematics from the University of Kaiserslautern, Germany, and her BS in Management Science from Beijing Normal University, China.