AI Takes Center Stage at Singapore FinTech Festival 2023: A Leap Towards a Digital Future

AI Takes Center Stage at Singapore FinTech Festival 2023: A Leap Towards a Digital Future
AI Takes Center Stage at Singapore FinTech Festival 2023: A Leap Towards a Digital Future. Photo Credit: Singapore Global Centre

The Singapore FinTech Festival (SFF) 2023, a premier global platform for the FinTech community, is set to take place from 15 – 17 November. This year, the festival is putting a spotlight on the ‘Applications of Artificial Intelligence (AI) in Financial Services’, aiming to explore the transformative potential of AI in reshaping the financial landscape.

The festival will bring together a diverse group of global policymakers, regulators, and investors. These thought leaders will engage in deep-dive roundtables with public and private sector organizations, addressing the challenges faced in scaling up digital finance. The discussions will focus on how technologies such as AI and Web3, and digital public goods, can help accelerate the transition to a low-carbon future.

Sopnendu Mohanty, Chief FinTech Officer, MAS and Chairman of Elevandi Board, said, “Innovations in technology continue to present us with powerful tools to enhance the global financial industry’s responses to economic and financial challenges. At SFF 2023, we have the opportunity to convene a global dialogue that will explore the potential of transformative technologies and policies for financial services, and bolster the FinTech ecosystem against future shocks.”

In a significant move, the festival, in partnership with the National University of Singapore Asia Institute for Digital Finance, will launch the ChatGPT and AI in Finance certificate program. This program, available to SFF pass-holders, will comprise self-paced online classes and feature exclusive industry talks by luminaries at the Festival.

In a recent tweet, the Singapore FinTech Festival revealed that over 60,000 meeting requests have already been made on the SFF 2023 App through the Business Matching platform, indicating high engagement and anticipation for the event:

The line-up of speakers at the festival includes top fintech entrepreneurs, innovators, and decision-makers. These include Tharman Shanmugaratnam, President of the Republic of Singapore; Ajay Banga, President, World Bank; Kristalina Georgieva, Managing Director, International Monetary Fund (IMF); Balaji Srinivasan, Investor, Entrepreneur & Technologist; Piyush Gupta, CEO, DBS Bank; Bill Winters, Group Chief Executive, Standard Chartered; Charles Cascarilla, Co-founder and CEO, Paxos; Chris Young, Executive Vice President, Business Development, Strategy, & Ventures, Microsoft; Eric Jing, Chairman and CEO, Ant Group; and Forest Lin, Corporate Vice President, Head of Tencent Financial Technology, Tencent.

Chua Wee Phong, Group Chief Executive Officer of Constellar, said, “Catering to attendees and exhibitors both new and returning, we have created a cohesive visitor experience enabling stronger connections on the show floor with an important difference: It will be the first SFF to be powered by renewable energy entirely from the Festival venue at Singapore EXPO. This is a significant milestone in the SFF’s sustainability journey towards Net Zero in collaboration with like-minded partners.”

The festival will also host a session titled “Tech Infrastructure for ESG: Global Leaders Assessment” on Wednesday, November 15 from 2:40 PM to 3:20 PM. This session will address one of the pressing questions of our time: can technology help in achieving the Paris Agreement’s goal to limit global warming? Following that, from 3:30 PM to 4:20 PM, the session “Financial Services For The Next Billion” will provide insights into the future of payment infrastructure.

In line with the festival’s commitment to sustainability, a recent tweet from the Singapore FinTech Festival featured an exclusive backstage quote from Sonam Wangchuk

“I just want to ask and appeal to everybody around the world to please live simply in their big cities so that we in the mountains can simply live.”

Sopnendu Mohanty, MAS chief fintech officer, emphasized that Singapore will focus on responsible AI — areas that are ethical, fair, and transparent — in the finance sector. The central bank will target key areas such as experimentation as well as financing investments and ideas that are commercially scalable.

The Singapore FinTech Festival 2023 is set to be a landmark event in the world of financial technology. With a focus on the transformative potential of Artificial Intelligence in financial services, the festival promises to be a platform for thought-provoking discussions and innovative ideas. The launch of the ChatGPT and AI in Finance certificate program, the presence of global policymakers, regulators, and investors, and the commitment to sustainability underscore the festival’s vision for the future of FinTech. As we look forward to this event, it is clear that the SFF 2023 is not just about celebrating the achievements of the past, but also about shaping the future of finance.

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