Dr. Alok Tiwari warns brokerages may not survive without AI
Dr. Alok Tiwari, Joint Secretary (Financial Markets), Department of Economic Affairs (DEA), Ministry of Finance, says old-school stock brokerage firms might not survive the next decade unless they catch up with AI and tech changes.
Speaking at a Mumbai convention, he urged these companies, especially family-run ones, to modernize fast, as AI and quantum computing are shaking up how finance works worldwide.
Tiwari urges firms to professionalize governance
Tiwari emphasized that updating both company structures and regulations is crucial for staying relevant.
He compared regulators to referees, saying it is up to market players to drive progress and create wealth.
His big message: professionalize, consolidate, and adapt your governance if you want to thrive in this rapidly changing financial world.