AI in Finance

AI is the key to driving the digital transformation of our financial industry. Learn more about how MAS is working with industry partners to grow the vibrancy and capabilities of Singapore’s AI ecosystem.


MAS is working to foster a thriving artificial intelligence (AI) ecosystem, facilitate research and development of new AI technologies, and accelerate the adoption of AI-enabled products, services and processes in Singapore's financial sector. To achieve this goal, we see five components:

Driving AI Adoption

MAS’ S$27 million Artificial Intelligence and Data Analytics (AIDA) Grant aims to promote the adoption and integration of AI and data analytics in financial institutions.

Building Networks and Community

MAS is working with partners to curate platforms and events for the AI community. We are also working with EDB and IMDA to link companies seeking AI solutions to credible solutions providers.

Strengthening AI Capabilities

To meet the need for professionals with the right skills and knowledge, MAS is working with IBF and IMDA to strengthen AI capabilities in the finance sector.

Establishing Strong Governance and Ethics

MAS has released a set of principles to promote fairness, ethics, accountability and transparency (FEAT) in the use of AI and data analytics in finance.

Getting Data Fundamentals Right

To harness the potential of AI and data analytics, data fundamentals first need to be in place. MAS has previously announced initiatives which aim to improve industry data quality and standards.

The adoption of advanced computing and data science in the financial sector will inevitably continue, and it will undoubtedly change the way we work and transform the way financial institutions operate. There are many moving parts, many necessary ingredients, many stakeholders, and we will walk this journey as an ecosystem. It is our collective responsibility to seek out the opportunities in this revolution, and not only ride the wave of disruption, but to facilitate the transition of culture.

- Dr David Hardoon, Chief Data Officer, MAS
Data Science and Machine Learning in Practice

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