Consob on artificial intelligence: “From 2024 we will use it for supervision”
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“The results we are seeing are encouraging. From 2024 we plan to start the use of artificial intelligence for some aspects, for example, of supervisory processes”. This was stated by Maria Antonietta Scopelliti, general secretary and current managing director of Consob.
Artificial intelligence and natural stupidity
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«A use that will certainly make operations more efficient. On the other hand, it is difficult to say, as of today, whether it will also be possible to apply it from a predictive point of view. It must be understood that such technologies are exclusively supportive of the human agent. No one will ever trigger the assessment automatically. These new solutions are very effective, for example, in the field of data extraction, its examination and sampling. They help with the preliminary investigation. In such a context, our experts are freer to focus and concentrate on the evaluation and analysis of the hypothetical suspicious event or potential anomaly”.
Artificial intelligence and natural stupidity
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With respect to the lack of resources of the Authorities, Scopelliti replies: «The market operators, undoubtedly, have considerable availability. Having said that, the Authorities are not standing still. Consob, for example, through partnerships with universities, has been able to carry out various projects in the preliminary analyzes to combat insider trading and in the automatic reading of documents with key information on some financial instruments. We are now working on the automatic reading of non-financial statements».
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