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Traditional stockbroking firms must adapt to AI driven changes or risk becoming obsolete in 10 years: DEA Joint Secretary Alok Tiwari

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Traditional stockbroking firms must adapt to AI driven changes or risk becoming obsolete in 10 years: DEA Joint Secretary Alok Tiwari

Business News Tech AI Traditional stockbroking firms must adapt to AI driven changes or risk becoming obsolete in 10 years: DEA Joint Secretary Alok Tiwari

Traditional stockbroking firms must adapt to AI driven changes or risk becoming obsolete in 10 years: DEA Joint Secretary Alok Tiwari

Technology's rapid growth is transforming capital markets, compelling players to rethink their operational frameworks. Dr. Alok Tiwari emphasizes the need to abandon outdated brokerage models within the next decade. He advocates for the merging and professionalization of small, family-run firms to succeed amid increasing complexity. The integration of technology with evolving governance structures is critical for managing future challenges, while market intermediaries remain essential in fostering trust and driving progress.

Rapid technological adoption and capacity building in capital markets are proceeding at a brutal pace, making traditional brokerage setups and legacy operational models unsustainable within the next decade, a senior government official said on Saturday. Addressing market intermediaries at the 16th ANMI International Capital Market Convention in Mumbai, Dr Alok Tiwari, Joint Secretary (Financial Markets), Department of Economic Affairs (DEA), Ministry of Finance, warned that market participants must proactively transform their governance and ownership frameworks. "Technology, the rate of change and capacity building are brutal. 10 years down the line, many of the participants in this room may not be there in this room, or may not deserve to be in this kind of legendary position," Tiwari said, pointing out that disruptive forces like Artificial Intelligence and quantum computing are reshaping financial operations globally.



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