IIT-M launches lab for artificial intelligence research in quantitative finance

The lab is being established with funding from AlphaGrep Securities, and will conduct research projects on financial markets and their microstructure and investment and risk management

The Indian Institute of Technology-Madras (IIT-M) has launched a laboratory to conduct research on quantitative finance.

AlphaGrep Securities has offered ₹5.65 crore through its corporate social responsibility initiative for setting up the laboratory for conducting research projects in artificial intelligence (AI) for quantitative finance, financial markets and their microstructure, and investment and risk management.

Ashwin Mahalingam, dean (alumni and corporate relations), at the institute, and Mohit Mutreja, chairman and managing director of AlphaGrep Securities, signed an agreement on Thursday.

IIT-M Director V. Kamakoti said the time was ripe to look at how AI could be used for effective and efficient conduct of business of financial institutions. The research centre was expected to take up exploratory projects on applying frontier AI techniques to quantitative finance, conduct training programmes for various stakeholders, offer courses for students in AI and quantitative finance, and develop datasets and other resources to enable research.

Mr. Mutreja said the lab aimed to nurture collaboration between the faculty members of the institute and the staff at the company and provide advanced resources and mentorship to the institute’s students. Professors from the Department of Data Science and AI at the institute will work in the lab. 

Published - October 10, 2024 09:30 pm IST