"Forging the Future: Unveiling the Pillars of an AI Hub for the Financial Industry"

 

The panel discussion features experts from Prudential, Singapore Economic Development Board, Google Cloud and Nomura, around the development of Singapore as a hub for AI in the financial industry, highlighting the collaborative efforts between various sectors and institutions.

Key highlights 

Singapore as an AI Hub:

  • The discussion emphasised how Singapore is leveraging its unique ecosystem, combining government support, educational institutions, and strategic partnerships to foster AI development.
  • Singapore's AI initiatives aim to build partnerships with entities like Google and local educational institutions to drive AI adoption.

 

Challenges and Opportunities:

  • The panel touched on regulatory frameworks, with insights on how Singapore's thoughtful regulation is helping accelerate AI adoption.
  • The importance of trust and responsible AI was stressed, with the panelists discussing regulatory frameworks and worldwide cooperation.

Role of Diversity and Collaboration:
  • Diversity within Singapore's population and the collaborative environment were highlighted as key drivers for successful AI experimentation and deployment.

 

Economic and Business Value:

  • The importance of creating tangible business value through AI was a recurring theme, with panellists sharing insights on how AI can drive efficiencies and top-line growth.
  • Initiatives like conducting AI experimentation in labs and scaling successful solutions were discussed.

AI Governance and Frameworks:

  • Panellists talked about the balance between enabling innovation and implementing robust AI governance to ensure the responsible use of technology.

Future Outlook:
The panellists expressed optimism about Singapore's role in the AI landscape, citing its conducive environment for fostering innovation and the potential for scaling AI solutions globally.

Conclusion:
The session concluded with positive remarks about the future, focusing on the economic and societal benefits AI can provide.

 

Speakers:

  • Deep Thomas, Chief Data Officer, Nomura
  • Kiran Kesavarapu, Director - Industry Solutions & Architecture, Google
  • Philbert Gomez, Executive Director, Digital Industry Singapore (DISG), Singapore Economic Development Board (EDB)
  • Tomasz Kurczyk, Chief Information Technology Officer, Prudential Singapore

 

Moderator:

  • Jill Malandrino, Global Markets Reporter, Nasdaq

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