Reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications and systems offered and used by market intermediaries

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....cts. SEBI is conducting a survey and creating an inventory of the AI / ML landscape in the Indian financial markets to gain an in-depth understanding of the adoption of such technologies in the markets and to ensure preparedness for any AI / ML policies that may arise in the future. 2. As most AI / ML systems are black boxes and their behavior cannot be easily quantified, it is imperative to ensure that any advertised financial benefit owing to these technologies in investor facing financial products offered by intermediaries should not constitute to misrepresentation Scope definition 3. Any set of applications / software / programs / executable / systems (computer systems) - cumulatively called application and systems, a. that are off....

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....a report, on AI / ML applications and systems reported by registered Stock Brokers / Depository Participants in the reporting format (Annexure C) on quarterly basis. The said report (Annexure C) shall be submitted in soft copy only at [email protected] (for Stock Exchange) / [email protected] (for Depositories) to SEBI within 30 calendar days of the expiry of the quarter, starting from quarter ending March 2019. 8. Stock Exchanges and Depositories shall; a) make necessary amendments to the relevant byelaws, rules and regulations for the implementation of the above direction; b) bring the provisions of this circular to the notice of their members/participants and also disseminate the same on their websites; and c) communicate to SEBI, t....

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....<free text field> 8 What is the name of the Tool / Technology that is categorized as AI and ML system / Application and submissions are declared vide this response <free text field> 9 How was the AI or ML project implemented <Internally / through solution provider / Jointly with a solution provider or third party> 10 Are the key controls and control points in your AI or ML application or systems in accordance to circular of SEBI that mandate cyber security control requirements <free text field> 11 Is the AI / ML system included in the system audit, if applicable? <Yes / NO / NA> 12 Describe the application / system and how it uses AI / ML as portrayed in the product offering <free text field> 13 What safeguards are in place....