Lala Lajpatrai Institute of Management

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Unlocking the potential of Artificial Intelligence (AI) in Banking, Commodities and Capital Markets

NS1

Event Date: 3rd & 4th November, 2023 At LLIM, Mumbai..

A two day National Seminar was conducted on the topic “Unlocking the potential of Artificial Intelligence (AI) in Banking, Commodities and Capital Markets” in LLIM Auditorium from 10:00 am to 5:00 pm on both days.

Approximately 300 participants including students and faculty members attended the event.

Day 1 started with welcoming the guests by the Director-LLIM Dr. H.J. Bhasin. Dr. Kamalji Gupta- Chairman of, Governing Council, conveyed his best wishes for the Seminar.

Mr. Hareesh Tibrewala, Joint CEO of Mirum India, was the chief guest. In his address, he explained why AI is getting so much attention. He briefed the participants about the humongous volume of data being generated which needs cost effective storage and computing methods. He explained types of AI models for supervised, unsupervised and reinforced learning. Also he delved into the details of basic building blocks of AI, statistical algorithms in AI, Off-the-shelf framework and tools, job roles for AI capabilities and various applications of AI in the capital markets. He explained with examples how AI benefits and what the applications of AI are in stock markets. He highlighted many ways through which the AI applications rule the stock markets.

The second speaker, CA Shripad Vaidya highlighted the applications of AI in Banking. He explained with real life examples of how AI has changed the face of banking operations and the ease with which the banking consumers have adopted to the technology and its usage. He started his session by describing the concepts of Artificial Intelligence, Machine Learning and Deep Learning and Generative AI. he very lucidly explained the role of AI in customer acquisition, data capture and in complementing the entire banking automation. Various applications of AI in banking were highlighted and explained in detail including examples from MYBANK China, Swedbank, in New lending product creation, identifying frauds and the usage of Generative AI.

The post lunch session begun with Mr. Saurabh Khanna from MCX. Mr. Khanna explained Artificial intelligence (AI) has rapidly emerged as a powerful tool for managing risk in commodities and commodities derivatives trading. Primary applications of AI in risk management for commodities trading is the use of machine learning algorithms to identify patterns in market data. Another key application of AI in risk management for commodities trading is the use of natural language processing (NLP) to analyze news articles and other sources of market information .By automatically scanning news articles and social media feeds for relevant information, NLP algorithms can identify potential risks and opportunities that may not be immediately apparent to human traders. He described with examples 4 Ways AI is Changing Commodity Trading. Overall, the capabilities of AI in risk management for commodities and commodities derivatives trading are vast and continue to evolve rapidly.

By providing real-time risk assessments, predictive analytics, and adaptive trading strategies, these systems can help traders to manage risk more effectively and generate higher profits in the volatile commodities market.

The last speaker was Mr. Adneysh Dalpati, Founder Eureka Moment initiative. He started the session with the concepts of AI, Prompt Engineering, LLM & Generative AI. Then he explained in detail what role AI has to play in Finance with various examples. The usage and applications of AI include areas such as Algorithmic Trading, Fraud Detection, Market Sentiment Analysis, Debt Collection, Automation, Credit Scoring, Risk Management, Personalized Banking Chatbots and Virtual Assistants, Regulatory Compliance Monitoring (RegTech) Portfolio Management (RoboAdvisors), Loan and Insurance Underwriting, Predictive Analytics and Customer Service Automation. He lucidly explained how investing has become different with the applications of AI. The steps of traditional investing such as Research Stocks and the Market, Analyze Financial Statements, Evaluate Stock Valuation, Understand Market Trends and Develop an Investment Strategy have become easier when AI tools are applied for each of these steps.

The key takeaways from all these sessions were:

• AI is here to stay in financial markets including Commodities and Capital Markets.
• The usage of AI applications in banking is also tremendous, which makes the storage of data and its computation very easy.
• There will be a sharp growth of professionals with the knowledge of AI, ML and Deep learning tools. Day 2 started with paper presentations. A variety of papers related to the theme and its tracks were presented.

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NS1

Event Date: 3rd & 4th November, 2023 At LLIM, Mumbai..

A two day National Seminar was conducted on the topic “Unlocking the potential of Artificial Intelligence (AI) in Banking, Commodities and Capital Markets” in LLIM Auditorium from 10:00 am to 5:00 pm on both days.

Approximately 300 participants including students and faculty members attended the event.

Day 1 started with welcoming the guests by the Director-LLIM Dr. H.J. Bhasin. Dr. Kamalji Gupta- Chairman of, Governing Council, conveyed his best wishes for the Seminar.

Mr. Hareesh Tibrewala, Joint CEO of Mirum India, was the chief guest. In his address, he explained why AI is getting so much attention. He briefed the participants about the humongous volume of data being generated which needs cost effective storage and computing methods. He explained types of AI models for supervised, unsupervised and reinforced learning. Also he delved into the details of basic building blocks of AI, statistical algorithms in AI, Off-the-shelf framework and tools, job roles for AI capabilities and various applications of AI in the capital markets. He explained with examples how AI benefits and what the applications of AI are in stock markets. He highlighted many ways through which the AI applications rule the stock markets.

The second speaker, CA Shripad Vaidya highlighted the applications of AI in Banking. He explained with real life examples of how AI has changed the face of banking operations and the ease with which the banking consumers have adopted to the technology and its usage. He started his session by describing the concepts of Artificial Intelligence, Machine Learning and Deep Learning and Generative AI. he very lucidly explained the role of AI in customer acquisition, data capture and in complementing the entire banking automation. Various applications of AI in banking were highlighted and explained in detail including examples from MYBANK China, Swedbank, in New lending product creation, identifying frauds and the usage of Generative AI.

The post lunch session begun with Mr. Saurabh Khanna from MCX. Mr. Khanna explained Artificial intelligence (AI) has rapidly emerged as a powerful tool for managing risk in commodities and commodities derivatives trading. Primary applications of AI in risk management for commodities trading is the use of machine learning algorithms to identify patterns in market data. Another key application of AI in risk management for commodities trading is the use of natural language processing (NLP) to analyze news articles and other sources of market information .By automatically scanning news articles and social media feeds for relevant information, NLP algorithms can identify potential risks and opportunities that may not be immediately apparent to human traders. He described with examples 4 Ways AI is Changing Commodity Trading. Overall, the capabilities of AI in risk management for commodities and commodities derivatives trading are vast and continue to evolve rapidly.

By providing real-time risk assessments, predictive analytics, and adaptive trading strategies, these systems can help traders to manage risk more effectively and generate higher profits in the volatile commodities market.

The last speaker was Mr. Adneysh Dalpati, Founder Eureka Moment initiative. He started the session with the concepts of AI, Prompt Engineering, LLM & Generative AI. Then he explained in detail what role AI has to play in Finance with various examples. The usage and applications of AI include areas such as Algorithmic Trading, Fraud Detection, Market Sentiment Analysis, Debt Collection, Automation, Credit Scoring, Risk Management, Personalized Banking Chatbots and Virtual Assistants, Regulatory Compliance Monitoring (RegTech) Portfolio Management (RoboAdvisors), Loan and Insurance Underwriting, Predictive Analytics and Customer Service Automation. He lucidly explained how investing has become different with the applications of AI. The steps of traditional investing such as Research Stocks and the Market, Analyze Financial Statements, Evaluate Stock Valuation, Understand Market Trends and Develop an Investment Strategy have become easier when AI tools are applied for each of these steps.

The key takeaways from all these sessions were:

• AI is here to stay in financial markets including Commodities and Capital Markets.
• The usage of AI applications in banking is also tremendous, which makes the storage of data and its computation very easy.
• There will be a sharp growth of professionals with the knowledge of AI, ML and Deep learning tools. Day 2 started with paper presentations. A variety of papers related to the theme and its tracks were presented.

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