ICE Forms AI Center of Excellence

Jeffrey Sprecher, chair and chief executive of ICE, said the group has created an internal research and development group, called the AI Center of Excellence, which is testing novel use cases and building appropriate governance guardrails to reduce or eliminate the risks inherent to artificial intelligence. Sprecher said that ICE is increasingly being asked how the firm is incorporating AI into its business. He said developers are working on how to integrate AI models into products, to monetize ICE’s proprietary datasets and to improve its own productivity. In addition, the firm is investing in ICE Chat, the commodity chat platform, to improve actionable insights and also using AI models for pattern recognition in regulatory compliance activities. Today ICE operates from 14 global data centers, and has built out ICE Cloud, a managed network connecting them to third-party trading and data venues and interconnecting major players across the global financial services industry. “We made the determination that managing our own IT infrastructure and making it available to our customers directly and through an ICE-managed cloud offers us a competitive advantage, while providing for better intellectual property protection and creating an avenue for our connectivity and data revenue growth,” Sprecher added. For example, customers can use their own code and equipment within the ICE global network and transmit their digital output across ICE Cloud, which is driving demand for access to ICE’s data centers and cloud