8SEPTEMBER 2025CFO TECH OUTLOOKIN MY OPINIONAs we hit our stride into the year ahead, one theme seemingly appears on every hot topic agenda item--Artificial Intelligence (AI)--in the case of financial services; the general presupposition is that current processes can be automated and/or optimised. However, to the extent that these processes are automated and/or optimised--will we get to a future state of optimisation where human input is not required? This will not be the case for the future state and will require a blend of AI integration and surveillance personnel input. Use Cases of AI in Surveillance Within financial services, surveillance can encompass various workstreams involving trade data, written e-communications, voice communications, and personal dealings (conflict of interests)--and in the context of this article, the use case can be assumed to be based upon best execution market abuse and conduct-related matters. We will touch on each of the workstreams in turn:Trade Surveillance--fundamentally, this type of surveillance generates alerts based on a parameter or threshold for a particular test. Where these alerts are generated, the individual evaluating would typically close the majority of alerts based on a false positive classification for various reasons. Now imagine where AI can be integrated; trade alerts being generated that were historically considered false positive would not even appear, and the individual would solely focus on Jason Shiu is a Vanguard Asset Management Compliance Manager (Market Surveillance & Monitoring). He has multiple years of experience working in various aspects of surveillance, using different platforms and monitoring tools within the trade surveillance and e-communications space. Before Vanguard, Jason worked as a Senior Compliance Officer at GAM Investments and Eaton Vance Investment Management. He has completed a Legal Practice Course with an MSc in Law, Business and Management from the University of Law and graduated with a LLB Law degree from the University of Birmingham.Through this article, Jason Shiu, Compliance Manager at Vanguard, explores the intersection of artificial intelligence (AI) and surveillance in financial services. He examines AI's potential to automate and optimise various surveillance workstreams, including trade surveillance, e-communications monitoring, voice communications analysis, and personal dealings oversight while emphasising the continued importance of human input in the surveillance process.A CROSSROADS BETWEEN AI AND SURVEILLANCE ­ A FUTURE STATE OF OPTIMISATIONBy Jason Shiu, Compliance Manager, VanguardJason Shiu
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