India’s capital market regulator, Sebi, is working on training a smart computer program called a large language model (LLM) to make its job easier and faster. This program will help Sebi speed up the time it takes to approve new money funds and investment schemes. Ananth Narayan G, a member of Sebi, shared this exciting news at an event hosted by the Confederation of Indian Industry.
Large language models are advanced tools that can understand and generate human language. They learn from lots of text data, allowing them to do cool things like write, summarize, and translate. It’s pretty unique for a financial regulator in India to share these specific plans to develop a smart program like this.
Currently, Sebi has improved its processes and can now approve applications for mutual fund schemes and initial public offerings in less than three months. They’re hoping to make this even faster, aiming for approval times of under one month! With the help of the new language model, Sebi believes it can achieve this goal more effectively. The training for this model is already in progress, and we can expect to see positive changes soon.
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