The Korea Exchange, South Korea’s bourse operator, said Wednesday it has begun adopting artificial intelligence technology in its capital market monitoring works.
The formal adoption of AI technology came about three months after the Korea Exchange acquired local AI startup Fair Labs to accelerate its AI transformation and strengthen its data businesses.
The AI technology enables employees to better analyze real-time data from listed firms and comprehensively screen data on corporate wrongdoings, including embezzlement and fraud, the Korea Exchange said in a statement.
Also, the AI-based monitoring system helps the bourse operator efficiently examine regulatory filings by listed firms, it said.
In February, the Korea Exchange acquired a 67 percent stake in Fair Labs for 6.7 billion won ($4.4 million).
Established in 2020, Fair Labs uses AI to process various atypical data, such as news articles and regulatory filings, into “high value-added” information that can help investment-related decision making, according to the bourse operator. (Yonhap)
