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Rakshit Choudhary, the CEO of online broker Deriv, has outlined the company's aggressive strategy to transform into an AI-first organization. Choudhary revealed that Deriv no longer relies on manual coding for its client-facing applications, as artificial intelligence tools have completely taken over software development. The broker has set an ambitious goal to automate 75% of its manual operational workflows across compliance, HR, finance, and marketing by the end of 2026.
This shift reflects a broader trend across the retail brokerage industry, where firms are increasingly leveraging artificial intelligence to streamline operations and cut costs. While major competitors such as eToro and FXCM have recently linked workforce reductions to AI integration, Deriv is focusing on upskilling its current staff. The company has hired over 100 dedicated AI engineers to train non-technical employees, aiming to redirect human talent toward higher-value strategic tasks rather than routine operational duties.
For the broader financial services sector, Deriv's aggressive automation highlights the fast-evolving operational landscape for online trading platforms. However, critical industry questions remain unanswered, particularly regarding legal liability and regulatory responsibility when autonomous AI agents make execution errors or place bad trades on behalf of clients. Market participants will be watching how regulators adapt to brokerages fully integrating AI into client infrastructure and trading execution systems.
