Mumbai
83.6% of stockbrokers in India plan to raise their IT budgets for the year 2024-25. Nearly 42% of these stockbrokers are targeting a 20% increase, with a strong focus on adopting emerging technologies like artificial intelligence (AI), blockchain, and algorithmic trading to enhance efficiency and customer experience, according to a report on Friday.
According to the survey, AI and machine learning (ML) are key priorities for 34.3% of stockbrokers, as they look to improve predictive analytics and develop personalized trading strategies. About 32.9% are focusing on algorithmic trading for automation and precision in trading, while 7.1% are adopting blockchain for more secure and transparent operations.
The survey also highlights a significant shift towards digitization, with over 60% of stockbrokers having already digitalized more than half of their business processes. Additionally, 84.8% of respondents stress the importance of safety, emphasizing the need for strong cybersecurity measures, while 90.9% prioritize simplicity in user interfaces to attract retail investors.
V. Sundaresan, Executive Director of SEBI, noted that the survey underscores the transformative role of emerging technologies in India’s capital markets, with a focus on innovation, transparency, and investor protection, which can drive sustainable growth while ensuring market stability.
