Artificial Intelligence In Finance
Investment advisers, analysts must disclose AI tool usage to clients: Sebi
Sebi has proposed that registered Investment Advisers and Research Analysts who employ artificial intelligence (AI) tools in their services must disclose the extent of usage to clients, emphasizing the importance of strong security measures to avoid unintended data exposure. This transparency is crucial for clients to understand how AI tools contribute to their investment decisions and to make informed choices about their advisory services. "The possibility of unintended data exposure highlights the need for strong security measures and clear disclosure to clients about the extent of AI tool usage", Trivesh D, COO at Tradejini, a stock trading platform, told PTI. The Securities and Exchange Board of India (Sebi), in its consultation paper earlier this month, highlighted the growing usage of AI tools in Investment Adviser (IA) and Research Analyst (RA) services. With technological innovations and advancements, many AI tools are currently available in chatbot form such as OpenAI's ..
 "Investment advisers, analysts must disclose AI tool usage to clients: Sebi")
JPMorgan Chase unveils AI-powered LLM Suite; may replace research analysts
US financial services major JPMorgan Chase's new large language model, functioning as a 'research analyst', has already been rolled for more than 50,000 employees
 "JPMorgan Chase unveils AI-powered LLM Suite; may replace research analysts")
AI spending in India to reach $5 billion by 2027: Intel-IDC study
According to the report, entities in India spent $1,703.8 million on AI in 2023, where BFSI, manufacturing, healthcare, telecom, and retail were the highest spending sectors during the year
 "AI spending in India to reach $5 billion by 2027: Intel-IDC study")
OpenAI readying search product to potentially rival Google, Perplexity
The feature would allow users to ask ChatGPT a question and receive answers that use details from the web with citations to sources such as Wikipedia entries and blog posts
 "OpenAI readying search product to potentially rival Google, Perplexity")
RBI Deputy Guv Rao flags risks of AI deployment in financial institutions
He categorized these risks into three broad sets-data bias and robustness, governance, and transparency
 "RBI Deputy Guv Rao flags risks of AI deployment in financial institutions")
Paytm looks to rationalise employee costs by revising hiring strategy
The company, said to be exploring different ways to save on employee costs, has laid off a few employees for 'poor performance'
 "Paytm looks to rationalise employee costs by revising hiring strategy")
GenAI can add $1.2-1.5 trillion to India's GDP by 2030: EY report
75 per cent of organisations said customer engagement was a segment that was most influenced by generative AI
 "GenAI can add $1.2-1.5 trillion to India's GDP by 2030: EY report")
Hopeful of global AI safety rules in 6-8 months: MoS IT Chandrasekhar
The GPAI is a congregation of 28 member countries and the European Union. India had joined the group as a founding member in 2020
 "Hopeful of global AI safety rules in 6-8 months: MoS IT Chandrasekhar")
AI integration may soon fundamentally alter how we search on the internet
AI has found its way into a number of industries, from transportation to health. Now it is being integrated with search engines
 "AI integration may soon fundamentally alter how we search on the internet")
Future of technology going to be driven by India: UAE's AI minister
Though technology is driven from places such as Bengaluru, Al Olama said it is coming from the rest of the world as well
 "Future of technology going to be driven by India: UAE's AI minister")
Are robots taking over the world's finance jobs?
In August 2012, robo stock traders at Knight Capital Group lost $440 million in just 45 minutes
 "Are robots taking over the world's finance jobs?")
