MAS teams up with EDB, IMDA and IBF to speed up AI adoption in Singapore's financial sector

Singapore

THE Monetary Authority of Singapore (MAS) announced it is teaming up with the trio of the Economic Development Board (EDB), Infocomm Media Development Authority (IMDA) and Institute of Banking and Finance (IBF) to accelerate the adoption of artificial intelligence (AI) in Singapore's financial sector.

The quartet aims to foster a "thriving AI ecosystem" and jointly facilitate research and development of new AI technologies and the adoption of AI-enabled products, services and processes for the financial sector.