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While AI and ML powered technologies are said to be dominating every sector today, in a surprise reply Nithin Kamath pointed out that for Zerodha there is 'no use-case yet'. 

Zerodha boss took to Twitter to express, I keep getting asked how we use AI/ML/Blockchain at @zerodhaonline, and I keep saying we don't and haven't found any use-case yet. This time I asked our man behind the scene, Dr K, to comment. Couldn't help but share his response. 

He also attached Dr Kailash's letter with the post. 

Here is what the letter says:

Like Nithin said, apart from a commodity recognition tool for processing images during onboarding, we use no AI or ML systems. We have not come across any problems yet where we have felt the need to turn to ML technology 

To add a bit more context, SEBI, the capital market regulator, runs a quarterly AI/ML survey where they seek data on AI/ML usage from every broker in India. The last time we'd spoke to the team that handled this at SEBI, they said no broker had reported usage despite many openly advertising AI powered technologies. 

From my interactions with the industry, I am strongly inclined to say that most of the claims of being powered by AI powered technologies are superfluous marketing, pure  hogwash. Bulk of the AI/ML technologies, if not all, are commodity tool that can be plugged in trivially that do not even warrant mention let alone strong powered by AI advertising. 

Anecdotally, pretty much every single instance of AI-first mindset that I have seen in the industry has been strong cases of misguided assumptions, outright delusion and often intellectually dishonesty. AI-first mindset tends to fall into the solution looking for a problem category so much that personally, I am highly skeptical of anything labeled as powered by AI.  

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