The corporate affairs ministry is probing deposits of over $1 billion made by around 20,000 companies during the cash ban last year. “The companies which deposited money during demonetization are being investigated using artificial intelligence”. Using data analytics and artificial intelligence, the information gathered will be used to take action against the offenders, the minister said. It’s also developing a state-of-the-art early warning system using artificial intelligence that will throw up red flags and provide information in case a company’s financial health deteriorates or if it’s transactions are suspect. “To be proactive it is necessary that we develop artificial intelligence.” Bloomberg

Source: Mint October 24, 2017 10:41 UTC