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ARTICLE · 10 NOVEMBER 2023

A New Intelligence Creeps Into The Capital Markets

McMillan LLP
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On October 10, 2023, the Ontario Securities Commission ("OSC") and Ernst & Young LLP ("EY") jointly released a report on the use of artificial intelligence ("AI") in Ontario's capital markets (the "AI Report").

CanadaFinance and Banking
Leila Rafi
Leila Rafi
Valenteena Samra
Valenteena Samra
Kiira Kaarid (Summer Student)
Kiira Kaarid (Summer Student)
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On October 10, 2023, the Ontario Securities Commission ("OSC") and Ernst & Young LLP ("EY") jointly released a report on the use of artificial intelligence ("AI") in Ontario's capital markets (the "AI Report"). AI is the theory and development of computer systems able to perform tasks that normally require human intelligence.1 The AI Report explores AI use cases in Canadian capital markets, the benefits and challenges of adoption, as well as the role of regulation and governance in managing the associated risks. The OSC has undertaken this research to consider how to best support responsible AI innovation and adoption, while fostering globally competitive capital markets in Ontario and keeping investors top of mind. In preparing the AI Report, the OSC and EY utilized on a broad range of sources, including academic and industry literature, roundtable discussions, and interviews with capital market participants. This bulletin provides a summary of the AI Report's

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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.

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