83.6 % stockbrokers to increase budgets, prioritize AI, algorithmic trading, and blockchain: ANMI report
Nov 22, 2024
Mumbai (Maharashtra) [India], November 22 : A shift toward technological investments is taking place, with 83.6 per cent of stockbrokers planning to boost their IT budgets in the coming year and 41.8 per cent aiming for an increase of up to 20 per cent, according to the Association of National Exchanges Members of India (ANMI) report.
The survey emphasised a growing focus on integrating technologies such as artificial intelligence (AI), algorithmic trading, and blockchain to drive efficiency, scalability, and customer satisfaction in capital markets.
According to the survey, 34.3 per cent of stockbrokers prioritise AI and machine learning (ML) for predictive analytics and personalised trading strategies, while 32.9 per cent are focusing on algorithmic trading to enhance precision and automation.
Additionally, 7.1 per cent are embracing blockchain for secure and transparent operations. Over 60 per cent of respondents have already digitised more than half of their business processes, demonstrating the sector's commitment to operational modernisation.
Safety and simplicity remain critical priorities, with 84.8 per cent of brokers emphasising the importance of robust cybersecurity frameworks and risk management strategies.
Meanwhile, 90.9 per cent highlighted the value of user-friendly platforms to encourage greater retail investor participation, reflecting a focus on inclusivity and accessibility in trading services.
VS Sundaresan, Executive Director, SEBI, said, "As stockbrokers increasingly prioritise investments in AI, blockchain, and algorithmic trading, SEBI remains committed to fostering an environment of innovation, transparency, and investor protection. By embracing emerging technologies alongside robust risk management frameworks, the industry can achieve sustainable growth while safeguarding the interests of market participants."
Harin Mehta, Chairman, ANMI, echoed this sentiment, emphasising the sector's readiness to adapt to the digital era and said, "With growing investments in AI, automation, and security, the industry is poised to deliver enhanced resilience and inclusivity. ANMI's commitment remains steadfast in equipping the sector with the roadmap for sustainable growth in an increasingly digital world."
