Nasdaq Leverages AI to Fortify Finance Industry Against Crime

JJohn January 11, 2024 7:01 AM

Nasdaq Inc. is significantly investing in artificial intelligence (AI) to bolster technology that deters financial crime. The move comes as demand spikes to halt advanced malicious actors in the industry. This anti-crime business is also Nasdaq's fastest-growing, recording roughly a 20% year-on-year growth.

Nasdaq's substantial investment in AI

Nasdaq Inc., a leading global provider of trading, clearing, exchange technology, listing, information, and public company services, is making a significant investment in artificial intelligence (AI). The move is aimed at bolstering technologies that combat financial crime. This comes at a time when the demand to curb sophisticated malicious actors in the financial industry is on the rise. Nasdaq's investment in AI is also part of a larger trend in the financial sector, where AI and machine learning are being increasingly deployed to enhance operational efficiency, risk management, and fraud detection.

The artificial intelligence technology that Nasdaq is investing in has the capability to predict and accelerate the identification of criminal behavior within the financial system. By using advanced algorithms and machine learning models, the technology can analyze vast amounts of data and detect patterns indicative of fraudulent or illegal activity. This enables swift action to be taken against these 'bad actors', thereby safeguarding the integrity of the financial system and protecting the interests of investors.

Nasdaq to list spot Bitcoin ETF's

In a recent development, the Securities and Exchange Commission (SEC) has given the green light for spot Bitcoin ETF's. This move has been welcomed by Nasdaq, which is among several exchanges that have applied to list the new product on their platforms. The spot Bitcoin ETF's are regulated and liquid, offering investors more access to Bitcoin without the need for direct ownership. This, according to Nasdaq CEO, Adena Friedman, 'opens the door for more accessibility for that particular asset class'.

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