SBI chairman CS Setty says AI could upgrade financial markets
Business
AI could seriously upgrade how our financial markets run, says SBI chairman CS Setty.
At CCIL's 25th anniversary in Mumbai, he explained that AI can help spot risks faster, cut down on mistakes, and speed up processes by learning from huge amounts of transaction data.
Automating things like clearing and settlement could also make everything cheaper and more efficient.
CS Setty: CCIL needs active monitoring
Setty pointed out that organizations like CCIL will need to shift from just handling trades after they happen to actively monitoring for risks as they unfold.
With new types of assets and more global transactions coming in, he believes CCIL's experience with innovation and risk management puts it in a great spot to lead these changes in India's financial system.