SEBI logo used for representational purpose.
| Photo Credit: Reuters

Securities and Exchange Board of India (SEBI) is using Artificial Intelligence (AI) for investigations, its Whole Time Member Kamlesh Chandra Varshney said on February 24 and emphasised that entities should keep track of technological developments.

Against the backdrop of instances of manipulations in the stock market, he said the message is that abiding with the law will be more beneficial and violations will cause problems.

In response to a question by PTI on whether SEBI is using AI, Mr. Varshney said, “we are using Al for investigations… and also using for a lot of things”. He was speaking on the sidelines of the 13th international convention of the Association of National Exchanges Members of India (ANMI) in the national capital.

“As long as the market is transparent and no manipulation is happening, that is fine with the regulator,” he noted. The SEBI has been taking action against violators as well as measures to enhance transparency and curb misdoings.