Singapore's financial regulator wants to bolster the adoption of artificial intelligence in the country's financial services sector. A trio of agencies have signed on.
The Monetary Authority of Singapore has set out plans to work with the Infocomm Media Development Authority, the Economic Development Board, and the Institute of Banking and Finance, it said in a statement on Tuesday.
Together the four parties will expedite research and development of new artificial intelligence (AI) technologies and the adoption of AI-enabled products, services and processes for the financial sector in Singapore.
Staying Ahead
While keen to embrace financial technology for the financial services sector, MAS chief data officer David Hardoon said that the government agencies must ensure that their regulations keep pace with developments.
