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.

As digital payments turn popular among Hong Kong consumers and more payment options are becoming available, EJ Insight invited David Lau, General Manager, Wirecard Hong Kong, Macau & Taiwan, to share his views on the opportunities, challenges and trends in this arena. Q: With a wide range of digital payment options from numerous players, is the Hong Kong market already too crowded? What sort of opportunities does Wirecard see in Hong Kong? A: Contrary to popular belief, the Hong Kong market is not that crowded yet. Despite the overwhelming reliance on the Octopus card, the bigger issue of digital payments has always been that the majority of digital payment systems and infrastructure are not robust enough, as of yet.

Consumers are no longer tethered to the cash register -- a fact that we widely recognize and embrace. What can more often go unnoticed is that merchants are no longer tethered to the traditional POS, either. Now every point -- in time and in place -- holds the possibility to connect with consumers but also to convert into a point of sale. Retailers are highly motivated, therefore, to develop payment ecosystems that best capitalize on this opportunity-rich yet diffuse environment and to integrate it into the in-store experience. In its 2017 Mobile Business Report, Business Insider reported that in-store mobile payments will reach $503 billion by 2020, reflecting a compound annual growth rate (CAGR) of 80 percent over five years.

"Breaking: Two Explosions in the White House and Barack Obama is injured." At the time of the tweet, AP's account had around two million followers. The post was favourited, retweeted, and spread. At 13:13, AP confirmed the tweet was fake. Three minutes later, then-White House press spokesman, Jay Carney, confirmed that there had been no explosion and that the president was alive and well.