Markets regulator Sebi is making use of machine learning, artificial intelligence, and deep learning, among some other tech, for surveillance by way of social media analytics and IT security. The regulator informed this on Tuesday, quoting its chairman Ajay Tyagi stated in a speech at an event that was organized in Singapore on Saturday.
Also, he stated that Sebi plans to invest Rs 500 crore in the following 5 years on upgrading and developing new IT capabilities. The Sebi chairman was talking with the South Asian Diaspora Convention at the National University of Singapore.
“New technologies like natural language processing, distributed ledger technology(DLT), and robotic procedure automation(RPA) in different fields of securities market segments such as surveillance, clearing and settlement, compliance automation, chance managing, and so on, are more and more being considered and used globally,” he mentioned.
Tyagi stated that Sebi’s strategy has always been encouraging and boost capacity building and originality and at the exact same time to be concerned about the possible risks related to that capacity building and controlling them. “Sebi doesn’t prescribe the technology type to be used by intermediaries for holding out their functions/providing the services, and its regulations are technologies agnostic,” he said. However, it guarantees that risk containment methods of completely new technologies adopted by the controlled entities must comply with IOSCO’s concepts pertaining to those areas.
Detailing the usage of technologies in Sebi’s operations, Tyagi mentioned that the regulator uses & consistently updates technology and strategies to invest Rs500 crore on IT projects in the following 5 years. “Sebi plans to get the own private cloud of its to have a typical IT infrastructure for many of Sebi’s IT infra requirements, and that is conveniently scalable also as has methods with open standards suitable for any technology.”
It is also adding in position a Network Operations Centre(NOC) for constant monitoring of the sleek performance of the Sebi IT networking and Securities Operations Centre (SOC) to identify and mitigate cyberattacks on Sebi’s IT infrastructure in effective and efficient way. “Sebi has additionally planned a data lake undertaking to augment analytical ability with advance analytical resources (like) AI/ML, deep learning, big data analytics, pattern recognition, processing of unstructured and structured details, text mining, natural language processing, etc,” he added.