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Singapore reinforces fintech hub bid with AI, quantum computing at its helm
Singapore pours $74.3 million into investing in AI and quantum computing technologies as part of its grand vision to propel innovation in the financial sector.
Singapore pours $74.3 million into investing in AI and quantum computing technologies as part of its grand vision to propel innovation in the financial sector.
While Monetary Authority of Singapore has elevated the risk factor for digital asset exchanges, it noted that there are currently no known terrorist financing cases in the city-state.
The IMF has released its AI Preparedness Index, which assesses 174 countries and how ready their economies are for the upcoming AI revolution; Singapore leads.
While it considers legacy banking as the biggest risk for money laundering, the Monetary Authority of Singapore believes that digital payment tokens are becoming increasingly significant.
As APAC countries navigate the complex landscape of stablecoin regulations, industry stakeholders must tread carefully, balancing innovation and compliance in the market.
Seatrium's latest collaboration with Singapore's A*STAR will combine their strengths to revolutionize the offshore and marine sector, using generative AI along the process.
Singapore now requires virtual asset service providers (VASPs) to file for a license within a month or face shutdown, even in cases where they don’t come into possession of the digital tokens.
With the evolution of the payments industry, Grab has expanded its payment options to include five digital currencies, offering users in Singapore more efficient and smoother transactions.
Singapore’s Members of Parliament said that the rapid adoption of AI may lead to job losses, particularly expressing concern about entry-level roles in coding and customer service.
Financial hub Singapore looks to become the leader in emerging technologies, including AI, in Southeast Asia, allocating $1 billion to drive AI innovation and future-proof the local economy.
Dubbed SEA-LION, the artificial intelligence model is designed to be an alternative to mainstream AIs and is trained with data from 11 local languages, including Bahasa Indonesia, Vietnamese, and Thai.
Dubbed the Model AI Governance Framework for Generative AI, Singapore's proposed rules build on the provision of the existing Model Governance Framework rolled out in 2020.