Sebi chief Madhabi Puri Buch said that 80 percent of processing work is done through AI.
Sebi chairperson Madhabi Puri Buch said that the market regulator is working on AI-based processing of IPO documents. She said at the FICCI 21st Annual Capital Market Conference, “We are developing the technology. We have already implemented Artificial intelligence (AI) for processing public documents, for example the REIT or InvIT annual report.”
Chairperson of the Securities and Exchange Board of India (SEBI) Madhabi Puri Buch is seen. (PTI)
She also said that 80 percent of processing work is done through AI. She added, “We are working on AI-based processes of IPO documents but with the assurance of the investor that we have looked through it.” Speaking about exercising numerous inspections and circulars on corporate papers she said, “My understanding is that we have combined NSE, BSE, depository, Sebi inspections. That was done four or five years ago.”
She explained, “Our regulation keeps pace with innovation, otherwise we will be like policemen in Hindi movies…. where after the hero and villain have finished fighting (we will arrive)… (but) we need to arrive at some point.”
Sebi is also in the process of finalising two new innovations – a combo product of rights issue and preferential allotment. She said, “One of the innovations you are going to see very soon, that we have a positive response for is a combo product of a rights issue and a preferential allotment.”
News/Business/ AI-based IPO documents processing soon? What Sebi chief Madhabi Puri Buch said
