The Securities and Exchange Commission (SEC) said it has launched SEC AInnovation, an artificial intelligence (AI)-powered platform designed to provide real-time assistance and response to public inquiries about the agency’s rules and regulations.
The platform was officially launched on Monday, June 2, the SEC announced on Wednesday.
In a statement, the SEC cited the initiative as gearing toward making its services “faster, smarter, and more accessible to everyone.”
The launch of SEC AInnovation is expected to significantly reduce the need for manual research and physical visits to SEC offices for routine inquiries.
The chatbot interface synthesizes legal information and sources on the mandates and processes of the SEC, providing its users with accurate and simplified responses, the commission said.
“These legal sources include laws implemented by the SEC, such as the RA11232, or the Revised Corporation Code, and RA8799, or the Securities Regulation Code, as well as other implementing rules and regulations, guidelines, memorandum circulars, advisories, and online services of the Commission,” it said.
By providing instant and accurate information, the platform empowers stakeholders with the knowledge needed to comply with SEC regulations efficiently.
“The public may interact with the chatbot in English, Filipino, Bisaya and other languages as SEC AInnovation is subscribed to a natural language processing engine,” the commission said.
“This initiative is all about breaking barriers and making our services faster, smarter and more accessible to everyone, not just in the Philippines but all over the world,” the outgoing SEC Commissioner Emilio Aquino said.
On Tuesday, President Ferdinand Marcos Jr. named lawyer and former Philippines Stock Exchange President Francis Edralin Lim as the new SEC chairman, effective this week.
“This system is built to communicate the way you do, breaking language barriers and making sure that everyone feels heard and understood,” Aquino added.
This move underscores the commission’s commitment to leveraging technology to improve public service delivery and foster a more informed and compliant business environment.
