IIT Jodhpur’s CMCE is the first in India to focus on the application of AI to the economy
The Mathematical and Computational Economics Center (CMCE) at IIT Jodhpur was established in 2020 as a specialized unit of the Multidisciplinary School of Artificial Intelligence and Data Science. The centre, which aims to enhance understanding of the evolving nature of economics in the internet age, is the first such academic unit in India to focus on applications of AI to economics and to economic theories.
CMCE’s main research areas include game theory, mechanism design, market design and auctions, social choice, decision theory, network economics, experimental economics and intelligence artificial intelligence and machine learning techniques to economic problems, according to a statement from the institute.
The CMCE is an interdisciplinary unit that combines knowledge in the disciplines of computer science, engineering, mathematics and statistics.
It is a specialized unit for researching and teaching economic theory, combined with the use of modern artificial intelligence tools, the IIT Jodhpur statement said, adding that the current network CMCE’s research collaborators include professors from IIT Delhi, Indian Institute of Management. (IIM) Bangalore, Ashoka University, Shiv Nadar University, Indian Statistical Institute Kolkata, Indian Institute of Science Education and Research (IISER) Bhopal, Maastricht University (Netherlands) and Western Michigan University (USA).
Several research projects at the Center for Mathematical and Computational Economics IIT Jodhpur are ongoing. While Center faculty member Dr. Dweepobotee Brahma’s research project investigates the cause and effect of socio-economic factors on various health outcomes, early warning signals of diseases that can help policy makers to establishing screening criteria, Dr. Ruhi Sonal’s is about using standard mathematical tools to understand how individuals make tactical decisions about membership in networks and the overall environment in which those networks thrive.
Dr. Abhinaba Lahiri’s research project examines the implications of a minor change in an individual’s opinions on the collective decision of the group. He also works on the generalization of existing special case solutions in preference aggregation problems.
“Economics, through the integration of data science, AI and computational techniques, has become more adept at quantitatively analyzing economies and the behavior and interactions of economic agents. This new CoE of IIT Jodhpur will engage deeply in knowledge generation and capacity building programs in this area, leading to new models of financial transactions, trading and market analysis. digital, this CoE, being unique in the country, will certainly have a significant impact on the economic growth and political outcomes of the country – Prof. Santanu Chaudhury, Director, IIT Jodhpur.
The Center for Mathematical and Computational Economics, IIT Jodhpur, aims to be a mecca for cutting-edge research in the combination of economic theory, machine learning and artificial intelligence. The center frequently organizes seminars and research workshops. It also plans an active research visitor program to provide a platform to engage in international academic exchange and collaboration, the statement added.