Sebi is trying to increase surveillance of social media and other platforms through a web intelligence tool that uses artificial intelligence and data analysis to investigate violations of various securities laws by individuals, groups, and other organizations.
In this context, according to a public announcement, the capital markets regulator has requested expressions of interest (EOI) from solution providers to implement, install and maintain a “Web Intelligence Tool”.
Noting that internet usage has grown exponentially in recent years, leading to the production of immense amounts of unstructured, publicly available data on the internet, Sebi said that this unstructured data has the potential to provide deep investigative insights about various entities, individuals, Groups and deliver issues related to violations of various securities laws.
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Manually extracting and analyzing large amounts of unstructured, publicly available data to generate actionable insights is typically time-consuming, tedious, and of limited effectiveness.
“Sebi is looking for a web intelligence tool that offers AI (artificial intelligence) based solutions to extract and analyze unstructured, publicly available data to gain deep insights about different entities, individuals, groups and themes,” it says in the message.
The new tool is designed to save time, simplify the analysis process and improve efficiency throughout the investigation process.
The regulator said the tool should be able to extract unstructured publicly available data from across the internet, including public websites, social media platforms, open-source databases and others, in relation to relevant entities, individuals, groups and subjects to collect.
The tool should enable investigators to easily analyze massive amounts of complex unstructured data using its AI and data analysis capabilities.
It should be able to visualize the data in the form of a network diagram to provide insights into the connections between relevant entities, individuals and groups. The visualization should be interactive and allow users to work with the data according to user needs.
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The tool should generate ready-made reports based on the defined report templates and users should be able to create and modify report templates without any programming effort.
Interested parties can submit their bids until October 3, the regulatory authority said.
Recently, Sebi has uncovered a large number of insider trading and front running cases using “mule accounts” using the latest technology tools.