artificial intelligence

      THE Monetary Authority of Singapore (MAS) has assembled a group of industry players to help the financial sector regulator develop a guide on the responsible and ethical use of artificial intelligence (AI) and data analytics by financial institutions.  The 10-member Fairness, Ethics, Accountability and Transparency (Feat) Committee will be co-chaired by MAS chief data officer David Hardoon and PrimePartners co-founder Hsieh Fu Hua, the MAS said in a statement on Monday.  Also on the committee are Senior Counsel V K Rajah, Singtel non-executive independent director Teo Swee Lian, Allianz chief data scientist Raymond Au; DBS chief data and transformation officer Paul Cobban, Standard Chartered Bank chief data officer Shameek Kundu, United Overseas Bank chief data officer Richard Lowe, OCBC Bank head of group customer analytics and decisioning Donald MacDonald, and Singapore Exchange head of fintech and data Kelvin Tan.  The MAS is aiming to complete the guide by the end of the year, and will be engaging the industry in the second quarter of 2018.  The guide will "set out key principles and best practices for the use of artificial intelligence and data analytics, helping financial institutions to strengthen internal governance and reduce risks of data misuse", the MAS said in a statement.  The MAS is also working with Singapore's Infocomm Media Development Authority on developing a broader understanding of artificial intelligence governance across sectors.

THE Monetary Authority of Singapore (MAS) has assembled a group of industry players to help the financial sector regulator develop a guide on the responsible and ethical use of artificial intelligence (AI) and data analytics by financial institutions.

Artificial intelligence in financial services

Artificial intelligence in financial services

Chatbots. Personal assistants. Robo-advisors. Machine learning. Cognitive computing. And so much more. While the term artificial intelligence (AI) has been around for 60 years, it has finally become part of our daily lives—and how we bank, invest, and get insured. 

How chatbots and artificial intelligence will save banks and the finance industry billions

How chatbots and artificial intelligence will save banks and the finance industry billions

Chatbots, computer programs that typically use text-based live chat as an interface to carry out tasks for customers on behalf of the business, are emerging as an inexpensive way to introduce artificial intelligence (AI) in banking.

Banks face up to impact of tech disruption

Banks face up to impact of tech disruption

A top executive at a major Wall Street bank is deep into his spiel on how artificial intelligence (AI) will make the firm smarter and leaner when he pauses to take a question: What does this mean for young people entering the business?

Conversational Banking Will Transform the Financial Services Industry

Conversational Banking Will Transform the Financial Services Industry

Leveraging the power of artificial intelligence (AI) and the surging popularity of messaging apps, conversational interfaces are enabling unprecedented banking engagement and re-establishing relationship banking.