Long before she began researching artificial intelligence (AI) and financial mathematics, Shamimeh Heydari was a curious child in Iran, constantly asking questions about numbers. She remembers one particular question she would always ask her mother: “What’s the biggest number that exists?” This was Shamimeh’s first encounter with the idea of infinity and the beginning of a lifelong love of mathematics.
Today, Shamimeh is pursuing a master’s degree in mathematics and statistics at uOttawa. Her research is funded by Inter-Math-AI, an interdisciplinary program that supports research at the intersection of mathematics and AI.
Taking charge of her own future
Throughout her school years, mathematics was always her strongest subject. Yet despite her talent and enthusiasm, she frequently encountered discouraging comments about what women could achieve in the field.
“Everyone told me I didn’t have a future in math because it’s hard for women in Iran to be successful in this major,” she says.
Still, she persevered. Encouraged by her parents and later by her husband (a fellow mathematician), she continued pursuing mathematics despite the obstacles.
“I always wanted more,” she says. “I just always wanted to grow and be successful in this subject.”
And so, Shamimeh did just that, graduating from Iran University of Science and Technology as one of the top students in her class.
Using AI for smarter financial decisions
After immigrating to Canada, Shamimeh explored a variety of online courses. These courses fueled her curiosity in machine learning and eventually led her to pursue an interdisciplinary master’s degree at uOttawa.
Her thesis bridges quantitative finance and AI. She developed and tested a reinforcement-learning approach to pricing American put options (a type of financial contract whose value depends on when it is used).
An American put option gives an investor the right to sell a stock at a set price before a deadline. The challenge lies in deciding whether to sell now or wait, since market prices can change, making the option more or less valuable.
Using reinforcement learning (a type of AI that learns through trial and error), Shamimeh trains computer models to evaluate market possibilities and identify when acting early is worthwhile. Her method can apply what it learns across different types of options beyond just the American put option, making it more flexible than pricing each contract separately. When tested, her AI model produced option prices that closely matched those calculated using established mathematical methods, showing that its efficiency does not compromise its accuracy.
“Banks are where this kind of mathematical research can have a direct practical impact,” she says. “I would like to continue developing and testing reinforcement-learning methods and explore how they can support option pricing and risk management. My ideal career would allow me to conduct this kind of research for a bank.”
She presented her research at the Fourteenth Annual Canadian Statistics Student Conference (CSSC) in Hamilton in May 2026 and at the 2026 Applied Mathematics, Modeling and Computational Science (AMMCS) congress, an international event held in Waterloo in August 2026.
Navigating research with exemplary resilience
Shamimeh’s MSc has been far from straightforward. While adapting to life in a new country and the rigours of master’s research, she also faced financial uncertainty and intense concern for family members abroad during the widespread internet disruptions in Iran.
During these challenges, she says the compassion of her supervisors, professors François-Michel Boire and Maia Fraser, made a tremendous difference.
“Professor Boire and Professor Fraser have been really kind and supportive. When covering international tuition fees became a major challenge, they provided me with additional funding, which was a lifeline for me. Their support helped me stay positive and focused on my research. I’m so grateful.”
Beyond her own studies, Shamimeh hopes that students in countries where women can fully pursue education, in math or any other field, take full advantage of that opportunity.
“Think of the girls who love learning but do not have the same opportunities. Make the most of the opportunities you have, and work hard to achieve your goals.”