Nasdaq Explores the Power of Generative AI, Seeks AI Acceptance Among Employees


  • Nasdaq experiences a divergence in AI adoption: Engineers and marketers embrace it, while lawyers exercise caution.
  • Verafin, a division of Nasdaq, explores generative AI for fighting financial crime, including deepfake detection.
  • Nasdaq implements a permissioning approach and comprehensive employee training to address concerns and ensure responsible AI adoption.

In the wake of more advanced artificial intelligence (AI) capabilities, Nasdaq, the global stock exchange operator and technology provider, is witnessing a divergence in AI acceptance among its workforce. While engineers and marketers eagerly embrace this emerging technology’s potential, lawyers are more cautious, according to Brad Peterson, Nasdaq’s Chief Technology and Chief Information Officer. This divide within the corporate realm reflects the varied perspectives on AI’s impact and underscores the need for careful implementation. Nasdaq has recently initiated internal efforts to explore the application of generative AI, with divisions like Verafin employing this technology to combat financial crime.

Nasdaq’s exploration of generative AI

Nasdaq’s foray into generative AI began with an internal hackathon organized by Verafin, a division focusing on anti-financial crime solutions. The hackathon investigated how generative AI could enhance its product by creating investigative reports based on past data. Verafin has already utilized AI broadly to detect fraudulent checks, and generative AI is expected to bolster its capabilities further. Peterson expressed the belief that race is imminent in deepfake detection, emphasizing the importance of AI in combating this growing threat.

Engineers and marketers seek AI acceptance

Engineers and computer programmers at Nasdaq are actively exploring ways to leverage AI, including using it to suggest code for various business operations. On the other hand, marketers are investigating the potential of ChatGPT-style programs to automate the drafting of blogs and other marketing content. While engineers and marketers are enthusiastic about integrating AI into their respective domains, lawyers within the company are more cautious, despite the broader expectation that AI could streamline tasks like summarizing lengthy documents. The legal team at Nasdaq is interested in AI’s potential but exercises prudence in its adoption.

Addressing concerns and implementing AI

To address concerns surrounding the use of AI, Nasdaq has adopted a permissioning approach, allowing access to AI tools for registered employees who have undergone proper training. This cautious approach aims to mitigate risks associated with confidential information being accessed by unauthorized individuals. Nasdaq is not rushing to impose immediate bans on AI tools, as some organizations have done. Peterson emphasized the company’s commitment to transparency, stating that while Nasdaq has been using AI in various forms for years, the recent experiments with generative AI have yet to produce any published code.

Ownership of AI output and collaboration

Nasdaq is navigating discussions with vendors to determine ownership rights over the final output generated by AI. This legal aspect remains a point of negotiation and is crucial for establishing clear responsibilities and accountability. Nasdaq primarily collaborates with Amazon Web Services (AWS) and explores other platforms. Peterson acknowledged Nasdaq’s extensive use of Microsoft products, including the Office Suite, corporate email, and Teams, which are gradually incorporating generative AI features.

Nasdaq’s future integration with Adenza

Looking ahead, Nasdaq plans to integrate Adenza, a software firm Thoma Bravo owns, into its operations. However, as Adenza utilizes on-premises data centres, Nasdaq will facilitate the migration to cloud infrastructure. This transition reflects Nasdaq’s commitment to harnessing the benefits of cloud-based technologies and underscores its dedication to staying at the forefront of technological advancements.

As Nasdaq delves into the potential of generative AI, the company witnesses varying degrees of acceptance among its workforce. While engineers and marketers enthusiastically embrace the possibilities offered by AI, lawyers exhibit a more cautious approach. Nasdaq’s permissioning approach and comprehensive employee training ensure responsible AI adoption within the organization. As Nasdaq continues to explore the boundaries of generative AI and navigates legal complexities, it remains committed to maintaining transparency and pushing the frontiers of technological innovation in the financial sector.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Glory Kaburu

Glory is an extremely knowledgeable journalist proficient with AI tools and research. She is passionate about AI and has authored several articles on the subject. She keeps herself abreast of the latest developments in Artificial Intelligence, Machine Learning, and Deep Learning and writes about them regularly.

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