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 endeavors might seem like the work of seasoned experts, yet imagine them being brought to life by the hands of undergraduate students in one class, each new to the world of programming. This is the transformative power of experiential learning and AI, where curiosity converges with technology, turning what once seemed impossible into a tangible reality.

Since 2020, Professor Samir Saadi and Qianru Cheryl Qi, with support from the Undergraduate Office’s Matthew Archibald, embarked on designing a groundbreaking FinTech and RegTech course. 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 educational innovation funding from Professor Miwako Nitani. Later, the team welcomed Professor Adelphe Ekponon, who brought fresh perspectives and further enriched the course.

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 this environment, making remarkable strides, those who are more inclined to follow established rules often find themselves overwhelmed when faced with difficult tasks. 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. Building on this momentum, Professor Qianru Cheryl 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.

Furthermore, 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 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.

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The FinTech Explorer: A Comprehensive Guide to Case Studies, Course Notes, and Emerging Trends Copyright © by Qianru (Cheryl) Qi; Shaista Jaffer; and Adelphe Ekponon is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.

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