MAS commits S$100 million to support quantum, AI capabilities in financial sector

THE Monetary Authority of Singapore (MAS) will commit an additional S$100 million to help financial institutions build capabilities in quantum and artificial intelligence (AI) technologies. This will include supporting manpower costs and technology solutions in these areas.

Classified under the Financial Sector Technology and Innovation Grant Scheme (FTSI 3.0), the funds are also expected to help advance quantum and AI-related innovation and adoption in financial services.

FSTI 3.0 had an initial commitment of S$150 million, and currently consists of six tracks including artificial intelligence, regulatory tech and environmental, social and governance fintech.

Source: Businesstimes