Artificial Intelligence and Data Analytics Grant
The Artificial Intelligence and Data Analytics Grant (AIDA) is launched as part of the Financial Sector Technology and Innovation (FSTI) scheme under the Financial Sector Development Fund (FSDF) to provide support for the strengthening of the AIDA ecosystem in the Singapore financial sector.
The FSTI scheme is valid till March 2020 and has the following 2 tracks: Financial Institution Track and Research Track.
1. Financial Institution Track
This initiative seeks to promote the adoption and integration of AIDA in financial institutions (FIs). In cases where there is a resultant impact on the workforce, this initiative seeks to also encourage FIs to address such impact through proactive up-skilling, re-skilling and redeployment.
|Applicant Eligibility||Applicants should be Singapore-based FIs or industry consortiums.|
|Project Eligibility|| The project should demonstrate adoption of AIDA techniques that achieve business objectives of strategy & decision making or insights generation, including:
|Funding support||Up to 50% co-funding of qualifying expenses, which may include direct manpower and project costs (e.g. professional services, hardware/software, licenses).|
2. Research Track
This initiative seeks support research institutes (RIs) in generating applied research in AIDA for Singapore and the Singapore financial sector. Applied research is defined as industry-relevant research, applicable to an FI's business models and processes.
|Applicant Eligibility||Applicants should be Singapore-based or foreign-based research institutions.|
|Funding support||Up to 70% co-funding of qualifying expenses, which may include direct manpower costs.|
How to Apply
Applicants should submit their applications 3 months before the commencement of the project in Singapore to facilitate project discussions and processing of application.