Nasdaq Puts Artificial Intelligence to Work

Nasdaq Inc. has developed early-stage artificial intelligence systems that can write certain financial reports and help detect fraudulent activity, and is considering other ways AI could collaborate with human analysts to enhance services for corporate clients. The AI projects were developed over the past year by Nasdaq’s in-house team of machine learning experts, says Brad Peterson, Nasdaq’s chief information and chief technology officer in a story in The Wall Street Journal. The financial services firm sees AI as a transformative technology and is looking for several ways to put it to use to remain competitive, Mr. Peterson said. Technology executives at Nasdaq and other firms say the big value in AI comes when it’s paired with human workers, in what’s known as “AI augmentation.” Last year, Nasdaq’s team of in-house data scientists and data engineers built an AI system that helps analysts write change-of-ownership reports. Such reports typically include information for chief executives and investor relations officers about institutional activity, including top buyers and sellers, as well as shareholder analysis, price performance and valuation. The AI system, currently in pilot phase, helps generate some portions of the report quickly and at a high quality, freeing up human analysts to spend more time providing deeper context and advising clients, Nasdaq said.