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.
Industry-wide Projects and Utilities
Industry-wide projects and utilities aim to provide FIs with AI-driven tools for insight generation.
Supporting the AIDA Ecosystem
MAS initiatives designed to promote AIDA adoption
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
What's New
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"ASEAN, Alternative Energy, and Artificial Intelligence" - Keynote Speech by Mr Ravi Menon, Managing Director, Monetary Authority of Singapore, at 61st ACI World Congress on 21 September 2023
Mr Ravi Menon, Managing Director of MAS, spoke on three dominant investment themes in Asia-Pacific in the next decade: ASEAN, Alternative Energy and Artificial Intelligence.
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MAS Launches AI in Finance Challenge for the 2023 Global FinTech Hackcelerator
MAS has launched the 8th edition of the Global FinTech Hackcelerator, titled “Artificial Intelligence (AI) in Finance Global Challenge”, to produce innovative and market-ready AI solutions that can transform the financial services industry.
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MAS Partners Google Cloud to Advance Capabilities in Generative AI Technology
MAS and Google Cloud signed a MoU to collaborate on generative artificial intelligence (AI) solutions that are grounded on responsible AI practices.
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MAS Partners Financial Industry to Create Framework for Responsible Use of AI
MAS announced that it is working with financial industry partners to create a framework for financial institutions to promote the responsible adoption of Artificial Intelligence and Data Analytics (AIDA). The framework, known as Veritas, will enable financial institutions to evaluate AIDA-driven solutions against the FEAT principles.
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"Combatting Financial Crime through New Technologies Built on Strong Fundamentals" - Keynote Speech by Ms Loo Siew Yee, Assistant Managing Director (Policy, Payments & Financial Crime), Monetary Authority of Singapore, at the International Compliance Association Annual APAC Conference on 16 October 2019
Ms Loo Siew Yee, AMD(PPF), spoke on the fundamentals of AML/CFT programmes, MAS' risk-targeted supervision and surveillance, financial institutions’ use of data analytics, and the upcoming supervision of virtual asset service providers.