Artificial Intelligence: A Trusted Partner for the Financial Industry

The first Model Artificial Intelligence Governance Framework in Asia was released by Singapore in January this year, in collaboration with the World Economic Forum's Centre for the Fourth Industrial Revolution. AI, an emerging frontier in technology that allows technical systems to simulate human intelligence and behaviors, has vast applications in many fields. As part of its «Smart Nation» pursuits, Singapore launched its National Artificial Intelligence (AI) Strategy at the Singapore FinTech Festival and Singapore Week of Innovation and TeCHnology (SFF x SWITCH) conference. Within the next three years, AI-powered chatbots will become the first point of contact for residents to report issues with city services while marking systems in schools will soon be automated. Across the financial landscape, AI has also weaved itself into the workings of the industry.