IBBI moots mandatory use of artifical intelligence in insolvency resolution

THE GOVERNMENT IS looking to make it mandatory for resolution professionals to use Artificial Intelligence (AI) agents in the insolvency process for greater efficiency, transparency, and accuracy.

- MANU KAUSHIK

According to a report from the Insolvency and Bankruptcy Board of India (IBBI), “By leveraging AI tools, India can address challenges such as delayed resolutions, fraudulent activities, and the overwhelming volume of financial data that professionals must analyse.”

Mandating AI adoption will enable resolution professionals to streamline compliance, automate documentation, detect anomalies, and improve stakeholder communication, the board added.