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
