Moreover, contributors confirmed no important distinction in adherence whether or not they acquired recommendation from a human or an AI instrument, suggesting Canadians could also be open to following AI-generated recommendation.
Leslie Byberg, government vice chairman of Strategic Regulation on the OSC, acknowledged, “This analysis highlights the alternatives AI can create for Canadian traders and market contributors.”
“It is necessary that we’re agile and in a position to harness these alternatives whereas guaranteeing investor safety stays on the forefront of how we regulate.”
The OSC additionally examined AI use instances in Canada and globally, figuring out three key areas:
- Choice assist: AI instruments that present suggestions or funding recommendation.
- Automation: AI methods that automate the administration of portfolios and funds, together with ETFs.
- Scams and fraud: AI methods that both contribute to scams concentrating on retail traders or assist mitigate them, particularly those who exploit the AI ‘buzz.’
Whereas AI gives the potential to ship extra reasonably priced funding recommendation, the report highlights dangers, resembling the opportunity of biased or inappropriate suggestions. Scams and fraud utilizing AI are additionally recognized as severe dangers, with the OSC persevering with its analysis on investor safety methods.
