Sebi intends to increase monitoring of social media and other platforms by developing a web intelligence tool that will employ artificial intelligence and data analytics to investigate breaches of various securities regulations by people, groups, and other entities.
According to a public notice, the capital markets regulator has requested Expressions of Interest (EOI) from solution providers to design, operate, and manage a ‘Web Intelligence Tool.’
Noting that internet usage has increased exponentially in recent years, resulting in massive amounts of unstructured publicly available data on the web, Sebi stated that this unstructured data has the potential to provide deep investigation insights about various entities, individuals, groups, and topics related to violations of various securities laws.
Manually extracting and analysing vast volumes of unstructured publically available data to produce meaningful insights is typically time consuming, difficult, and ineffective.
According to the announcement, “Sebi is searching for a Web Intelligence Tool that delivers AI (Artificial Intelligence) based solutions to collect and analyse unstructured publically accessible data in order to get deep intelligence insights about diverse entities, persons, groups, and themes.”
The new tool is supposed to save time, simplify the analytical process, and increase overall inquiry efficiency.
According to the regulator, the tool should be able to collect unstructured publicly accessible material from the web, such as public websites, social media platforms, and open source databases, among other things, in relation to relevant entities, persons, groups, and subjects.
Using its AI and data analytics skills, the technology should allow investigators to easily analyse huge volumes of complicated unstructured data.
It should be able to visualise data in the form of a network chart in order to get insights into the relationships between relevant entities, persons, and organisations. The visualisation should be interactive and allow users to interact with the data as needed.
The tool should generate ready-to-use reports based on the provided report templates, and users should be able to build and edit report templates without the need for coding.
Bids must be submitted by October 3, according to the regulator.
Recently, Sebi discovered a substantial number of insider trading and front-running instances in which’mule accounts’ were exploited with the use of cutting-edge technology tools.