Nasdaq Embraces AI to Spearhead Financial Crime Prevention

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Nasdaq Inc. made significant investments in the field of artificial intelligence (AI) technologies. As Nasdaq, once known as a global exchange operator, transforms into a more diversified financial services firm, this venture marks a significant strategic shift for the company.

During an address at the Consumer Technology Association conference in Las Vegas, Adena Friedman, CEO of Nasdaq, emphasized the company’s commitment to using artificial intelligence for the purpose of preventing financial crimes. Friedman emphasized the need to use cutting-edge technology to maintain a competitive edge in this ongoing battle against sophisticated financial criminals. He recognized the growing need to combat these criminals.

Nasdaq’s Financial Crimes Division, which has seen growth of about twenty percent year over year, is at the forefront of this drive. Through the use of artificial intelligence, Nasdaq intends to improve its ability to predict and quickly recognize illegal behavior, thereby significantly improving the integrity of the financial ecosystem. This AI-powered strategy is not only unique, but also important in this day and age, when financial crimes are becoming more sophisticated and harder to detect.

Cooperation includes not only cooperation with Nasdaq, but also relations with other exchanges, brokerage companies and banks. These businesses are expected to use the software provided by Nasdaq to identify and eliminate any risks, thereby creating a more secure financial environment for all applicable parties.

The Nasdaq has been undergoing a more comprehensive transition since 2017, and this investment in artificial intelligence is a component of that change. Expanding beyond its core stock market activities, the firm diversified into more reliable sources of income. One example of this is the purchase of Adenza, a software provider that contributed significantly to Nasdaq’s development into a full-fledged financial services organization.

In addition, the incorporation of artificial intelligence into the financial services market reflects a broader trend in the sector, which is that businesses are increasingly turning to technology to improve their operations and deliver distinctive services. This pattern is particularly noticeable in fields such as biotechnology, where businesses are increasing their use of artificial intelligence to develop new solutions and differentiate themselves in the market.

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