Survey was conducted by The Association of National Exchanges Members of India (ANMI) which focused on technological trends in the stock brokering industry and the level of technology penetration in the capital markets,with sample size of over 900 stock exchange brokers, disclosed that 82.3% of Indian stock brockers planning to invest in to invest in cybersecurity for enhanced business resilience.
While 53.1 percent of participants reported having no IT-related problems s in 2023.Comparing the data to 2022,a surge was seen in IT related issues,inducing the stock brockers to invest more in Technology.
In the Era of Artificial Intelligence…..
It is not surprising to see a growing inclination among stock brockers towards these cutting edge technologies.As an evidence, nearly 25-50 percent of businesses shifted from physical to doing operations on digital platforms.
Survey also revealed that even with the ongoing digitisation of business operations, there is still a sustained demand for IT professionals, prompting substantial investments in technology. Especially, 71.1 percent of the respondents are thoroughly observing & thinking about expanding their workforce or hiring new talent to expand their IT teams.
“The popularity of algorithmic trading is increasing day by day, and there is numerous algorithmic trading software available in the market which can help traders in automating their trading activities.”, Milan Parikh said,who is Chairman of ANMI Western Region.
Convenor and Executive Committee Member of ANMI Western Region, Mahesh Dessi underscored the role of data analytics, artificial intelligence, and machine learning in driving advancements in the stock market industry. He stated, “Data analytics and artificial intelligence have become the main drivers of technology-driven changes in the capital markets.”
