Sebi’s Whole Time Member, Kamlesh Chandra Varshney, revealed on Saturday that the Securities and Exchange Board of India is utilizing Artificial Intelligence (AI) for its investigative efforts. Varshney stressed the importance for entities to stay abreast of technological advancements. With recent incidents of market manipulation in mind, he conveyed that adherence to regulations will yield benefits, whereas violations will lead to complications.
Responding to a query from PTI regarding Sebi’s utilization of AI, Varshney confirmed, “we are employing AI for investigations… and various other purposes.” He made these remarks during the sidelines of the 13th international convention of the Association of National Exchanges Members of India (ANMI) in New Delhi. Varshney underscored that as long as the market remains transparent and free from manipulation, it aligns with the regulator’s objectives.
Sebi has been actively taking measures to address violations, enhance transparency, and combat wrongdoing within the market.
