What does good look like for ASIC?
Operationalisation and ongoing experimentation with new datasets, technologies and analytic techniques to enhance ASIC's supervisory and regulatory activities.
Collect newer, better data
- Real-time monitoring
- Integration with regulated entities’ systems
- Machine readable regulation
- Data sharing between government agencies
- Natural language processing (NLP) for documents, audio, video and image data
Store, manage and protect data
- Centralised, cloud-based big data storage and processing
- Machine learning to detect faulty or incomplete data
- Integration of related data
- Robust information security
- Mature data governance, privacy and ethics practices
Use data to enhance priority activities
- Machine learning for risk scoring and categorisation
- Early detection of fraud and emerging threats and harms
- Enhanced auditing of market conduct
- NLP to audit promotional material and prospectuses
- Policy simulations
Use data to automate internal processes
- Automated data processing (integrated datasets, workflows and dashboards)
- Automated reporting (internal and external)
- Automated licensing and registration processes