Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch on Friday said that the market regulator is exploring the use of AI for faster approval of IPOS and Mutual Funds (MFs) applications.A large number of AI-driven projects are already on the way, within SEBI and one of the key, utilisations of AI that we are deploying is to do faster processing of all applications so that we can turn this around even faster, said Buch during the inaugural session of SEBI Samvad symposium.Buch highlighted that as of November 2024, only two IPO applications were pending approval for over six months, which is a significant improvement from 8 in March 2022. She said same goes for applications for mutual funds, as of November 2024, only one such fund application was pending that was six months old. This number was 69 in March 2022.The introduction of AI will further reduce the timelines for IPOs and MFs approvals. Buch said the Indian IPO market is booming with a flood of applications being received every week.