SET soon to adpot AI for monitoring of listed companies
The Stock Exchange of Thailand (SET) is set to implement artificial intelligence (AI) tools to enhance its monitoring of listed companies amid growing concerns about corporate fraud.
SET President Asadej Kongsiri explained that the AI adoption will enable the bourse to more rapidly detect irregular share price movements and trading activities, allowing for quicker investor notifications.
Asadej highlighted that late warnings and delayed enforcement have been key factors undermining investor confidence in the Thai stock market. Asadej, who took office on October 1, emphasised the significant challenge of monitoring corporate conduct.
“There are as many as 300 daily news and reports about listed companies’ possible wrongdoings that we have to monitor. AI will certainly ease the supervision staff’s workload and deliver faster warnings.”
The move comes amid efforts to improve capital market oversight, prompted by high-profile investigations involving fraud allegations at companies like Energy Absolute Plc and Stark Corp.
The benchmark SET index continues to underperform compared to most of its Southeast Asian counterparts, a situation exacerbated by corporate scandals, concerns over illegal short selling, and recent political instability that dampened market sentiment earlier in the year.
Additionally, Asadej reaffirmed the exchange’s strategic plan to implement a new programme aimed at boosting listed companies’ valuations and shareholder returns over the next three years. This initiative will provide companies with consultations and advice to improve their operational and communication strategies, to attract greater investor interest.
Furthermore, the exchange plans to promote trading in bonds and carbon credits, offering investors expanded investment options, reported Bangkok Post.
In similar news, hold the front page! Thailand is making some serious waves in the world of artificial intelligence (AI). The Land of Smiles is rolling up its sleeves to become a key regional centre for AI training, partnering with the United Nations Educational, Scientific and Cultural Organisation (UNESCO).
