Artificial Intelligence and Data Analytics (AIDA) in Finance

Recognising the importance of AIDA as an enabler that improves the competitiveness of the financial industry, MAS seeks to foster a thriving AIDA ecosystem and promote responsible and sustainable long-term growth through facilitating research and development of new AI technologies; and accelerating the adoption of AI-enabled products, services and processes in the financial sector.

Overview

Under the National AI Programme in Finance,  a joint effort by MAS and the Smart Nation and Digital Government Group (SNDGG), we aim to develop Singapore into a global hub for Financial Institutions to research, develop, and deploy AIDA solutions to enhance productivity, Innovation and Job creation, and improve societal acceptance of AIDA due to better governance.

MAS is committed to increasing the competitiveness of Singapore's financial sector and supporting long-term sustainable growth for the industry. Supporting AIDA adoption is one of our key strategies to help Financial Institutions evolve and gain an edge. Building a strong AIDA ecosystem will also help to propagate the development of in-demand technical skills amongst the local workforce, and boost Singapore's standing as a leading global financial hub.

- Sopnendhu Mohanty, Chief FinTech Officer, MAS

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