Artificial intelligence will take center stage at Singapore’s annual fintech event in November, underscoring the growing significance of the technology.
(Bloomberg) — Artificial intelligence will take center stage at Singapore’s annual fintech event in November, underscoring the growing significance of the technology.
The Singapore FinTech Festival will highlight the growth and adoption of AI and how it can be used in financial services, the Monetary Authority of Singapore said in a statement Thursday.
The banking and investment industry is experimenting with AI even as it grapples with concerns over transparency and effectiveness. The MAS this week agreed to partner Alphabet Inc.’s Google Cloud to co-develop solutions for its own digital services, and is seeking to expand the AI talent pool for the finance sector.
Read: JPMorgan’s Push Into AI Has Wall Street Rivals Playing Catch-Up
Singapore will emphasize responsible AI — areas that are ethical, fair and transparent — in the finance sector, MAS chief fintech officer Sopnendu Mohanty said in May. The central bank will target key areas such as experimentation as well as financing investments and ideas that are commercially scalable, he had said.
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