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ARTICLE · 05 DECEMBER 2023

The Digital Transformation: OSC Report On Artificial Intelligence In Capital Markets

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This month, the Ontario Securities Commission (OSC) in collaboration with Ernst & Young LLP published its first report (the Report) on the adoption and use of artificial intelligence...

CanadaFinance and Banking
AUM Law
AUM Law
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This month, the Ontario Securities Commission (OSC) in collaboration with Ernst & Young LLP published its first report (the Report) on the adoption and use of artificial intelligence (AI) in Ontario's capital markets. The Report canvasses the ways AI is currently being utilized to support capital market processes including asset allocation, price and liquidity forecasting, hedging, trade order execution and surveillance, high-frequency trading, futures market analysis, and sales and marketing.

The Report notes that the current AI landscape in Ontario is already strong and internationally competitive, citing Vector Institute Reports which noted significant spending on AI research and development in Ontario as well as over $2.8 billion in venture capital investment in Ontario's AI ecosystem from 2021-2022. The influx of spending on AI related applications, the uptick in new AI companies founded in Ontario and the corresponding increase in AI-related jobs all suggest

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