How artificial intelligence technology can provide earning opportunity in financial market to millions of peoples in India.

Introduction

Artificial intelligence technology in financial market is the ability of a digital computer controlled program to perform tasks of predicting the movement in index or a stock in market. Such timely predictions can be utilized and communicate it to peoples who are interested to trade for making profit on routine basis. At present governments worldwide are facing huge pressure as they are unable to provide jobs and employment to their all peoples. Here artificial intelligence system can be very helpful. In this blog the potential of artificial intelligence system in financial market will be evaluated.

 

Results of artificial intelligence system application in financial market

Dr. Vinay Sahay led a project to develop an index option buying prediction tool in financial market using artificial intelligence system. About 8 times predictions were made and 7 times predictions were correct. The results are very encouraging. The results are provided here in Figure 1 (Dated 14, 15, 16, 17, 20 and 21 February 2023).

Figure 1. Predicted trades of dated 14, 15, 16, 17, 20 and 21 February 2023.

        Benefits of this artificial intelligence based financial market tool

1. Low capital is required. At present Bank nifty index option lot size is 25 shares, a lot. So buying capital for example at a price of 191 Rs is 4775 Rs.

2. Low capital requirement will help large mass of peoples, even having low income, to participate in market.

3. At village level also an earning opportunity system will be available for farmers, after their training, apart from agriculture.

Potential of artificial intelligence system in financial market

Financial market is an important component of Indian economy. Its importance can be understood from the size of the index market as well as overall market. For example on 21 February, 2023’s turnover in Index option was of about 231 lakh crore (Figure 2). This turnover data points out its significance as a huge market size in which millions of peoples can participate and earn their livelihoods. But unfortunately financial market literacy is not common in Indian education system and due to his majority of peoples do not know much about it and its significance. As financial literacy is not prevalent so they don’t know how they can extract benefit from it. So government should start a mass scale training program of financial market.           

Figure 2. Instrument wise volume and turnover of National Stock Exchange.

 Conclusions

At present Governments at all level are unable to provide jobs and employment to all. Above study results shows that the artificial intelligence system can help Government to tackle this problem on mass scale. Government should utilize artificial intelligence system to develop a data analysis and prediction tool for providing regular inputs. Those inputs will be utilized by millions of peoples making money on daily basis from the financial market. This will help to develop the economy further.