Reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications and systems offered and used by Market Infrastructure Institutions (MIIs)

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..... ion of such technologies in the markets and to ensure preparedness for any AI / ML policies that may arise in the future. Scope definition 2. Any set of applications / software / programs / executable / systems (computer systems) cumulatively called application and systems, to carry out compliance operations / activities, where AI / ML is used for compliance or management purposes, is included in the scope of this circular. In order to make the scope of this circular inclusive of various AI and ML technologies in use, the scope also covers Fin-Tech and Reg-Tech initiatives undertaken by MIIs that involves AI and ML. 3. Technologies that are considered to be categorized as AI and ML technologies in the scope of this circular, a .....

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..... l language will be considered in scope. Eg: robo chat bots, big data intelligence gathering systems. 2. Neural Networks or a modified form of it. In this case, any systems that uses a number of nodes (physical or software simulated nodes) mimicking natural neural networks of any scale, so as to carry out learning from previous firing of the nodes will be considered in scope. Eg: Recurrent Neural networks and Deep learning Neural Networks 3. Machine learning through supervised, unsupervised learning or a combination of both. In this case, any application or systems that carry out knowledge representation to form a knowledge base of domain, by learning and creating its outputs with real world input data and deciding future outputs b .....

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..... as AI and ML system / Application and submissions are declared vide this response 9 How was the AI or ML project implemented 10 Are the key controls and control points in your AI or ML application or systems in accordance with circular(s) of SEBI that mandate/s cyber security control requirements 11 Is the AI / ML system included in the system audit 12 Describe the application / system and how it uses AI / ML 13 What safeguards are in place to prevent abnormal beha .....

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