Consob will use artificial intelligence for assessments from 2024

Maria Antonietta Scopelliti, Secretary General and current Director General, expresses, while maintaining a certain prudence, the will of the Authority to exploit new technologies

“The results we are seeing are comforting. From 2024 we plan to start using artificial intelligence for some aspects, for example, of supervisory processes”. This was stated by Maria Antonietta Scopelliti, general secretary and current general manager of Consob, in an interview with Il Sole 24 Ore, who spoke of “comforting results” above all for the data, from the examination to the sampling. “A use – he said – that will certainly make operations more efficient. It is difficult to say, today, whether it will be possible to apply it also from a predictive point of view. It must be clear that similar technologies are exclusively of support to the human agent. No one will ever trigger the assessment automatically”. “These new solutions are very effective, for example, in the field of data extraction, its examination and sampling. They lend a hand on the preliminary investigation. In such a context, our experts are freer to focus and concentrate on the evaluation and analysis of the hypothetical suspicious event or potential anomaly” added Scopelliti.

The partnership with the Universities

As regards the lack of resources of the Authorities, Scopelliti replies: “The market operators undoubtedly have considerable resources. Having said that, the Authorities are not standing still. Consob, for example, through partnerships with universities, has been able to carry out various projects in the preliminary analyzes to combat insider trading and in the automatic reading of documents with key information on some financial instruments. We are now working on the automatic reading of non-financial statements”.