Adena Friedman, chair and chief executive of Nasdaq, highlighted the potential of generative artificial intelligence (AI) across its businesses as the exchange has made a regulatory filing for its first AI-driven order type – Dynamic M-ELO. Friedman spoke on Nasdaq’s first quarter 2023 results call on 19 April and argued that Nasdaq has been very intentional in migrating critical workloads and capabilities into a cloud environment with modern APIs to support client connectivity and functionality, and has also built unique datasets across various business areas, which are foundational to using AI. Examples of AI and machine learning being used by Nasdaq include its anti-financial crime business in combination with advanced data sets to improve the efficiency of the banking industry’s daily compliance processes.
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