In a recent interview on CNBC’s ‘Squawk Box,’ Adena Friedman, the CEO of Nasdaq, discussed the company’s first-quarter results and the impact of artificial intelligence (AI) on the firm. Friedman accenuated a strong quarter for Nasdaq with 7% overall growth and significant achievements in its index business, which now manages over $500 billion in assets. Despite a muted IPO environment, Friedman expressed satisfaction with Nasdaq’s diversification and its ability to thrive in varying market conditions.
“The fundamental thing we found,” Friedman noted, “there were 540 million different combinations of codes that your provider needs to bill appropriately to get you paid your explanations on point,” said Friedman, underscoring the transformative role AI is playing in the company, especially in regulatory and risk management functions. “What we do with artificial intelligence is we take in all of the data your provider is sending out and all the data your insurance company is sending back to construct transparently what should transpire with that claim,” she further explained.
Friedman also addressed the broader implications of AI in streamlining operations and enhancing productivity.
“In the future, I hope to partner with them and providers and payers can go together on transparency using these technologies,” she stated, which highlights the potential for collaborative progress in utilizing AI tools. This interview underscores the significant strides Nasdaq is making under Friedman’s leadership in integrating AI to optimize performance and customer impact in the financial sector.
Featured image: Credit: Nasdaq
