According to a recent survey conducted by the Association of National Exchanges Members of India (ANMI), the majority of stock brokers are planning to increase their IT budgets for the upcoming fiscal year.

The focus of these budget increases will be on emerging technologies, with artificial intelligence (AI) and machine learning (ML) being the top priorities for 34.3% of respondents. The goal is to enhance predictive analytics and develop personalized trading strategies.

The survey also found that 42% of brokers plan to boost their budgets by 20%, indicating a significant shift towards technology in the broking industry. As a result, firms are planning to expand their IT workforce, with 66% of surveyed brokers intending to increase manpower or recruit new talent, particularly in the areas of AI, algorithmic trading, and blockchain technologies.

These findings highlight the increasing importance of financial technology in improving efficiency and customer experience in the stock broking sector.