Sebi seeks to bolster monitoring of social media and other platforms with a web-based intelligence tool using artificial intelligence and data analytics to investigate violations of various securities laws by individuals, groups and other entities.
In this regard, the capital markets regulator has invited Expressions of Interest (EOI) from solution providers to implement, install and maintain a “web intelligence tool”, according to a public notice.
Noting that internet usage has grown exponentially over the past few years, resulting in the production of immense amounts of publicly available unstructured data on the web, Sebi said that such unstructured data has the potential to provide in-depth information on various entities, individuals, groups, and topics related to violations of various securities laws.
Manually extracting and analyzing massive amounts of publicly available unstructured data to reveal actionable insights is typically time-consuming, cumbersome, and of limited effectiveness.
“Sebi is looking for a web intelligence tool that provides AI (artificial intelligence) based solutions to extract and analyze publicly available unstructured data to gain in-depth insights into various entities, individuals, groups and subjects,’ according to the notice.
The new tool is expected to save time, facilitate the analysis process and improve the efficiency of the entire investigation process.
The regulator said the tool should be able to collect publicly available unstructured data from across the web, including public websites, social media platforms and open source databases, among others, regarding entities, individuals, groups and subjects concerned.
The tool is expected to allow investigators to easily analyze massive amounts of complex unstructured data using its AI and data analysis capabilities.
It should have the ability to visualize data in the form of a network diagram to find information about the connections between relevant entities, individuals, and groups. The visualization should be interactive and allow users to work with the data as needed.
The tool should generate out-of-the-box reports based on the defined report templates, and users should be able to create and modify report templates without any coding requirements.
Interested parties can submit bids by Oct. 3, the regulator said.
Recently, Sebi uncovered a slew of insider trading and high-profile deals where “mule accounts” were used using the latest technology tools.
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