The eighth edition of the Singapore FinTech Festival (SFF) will kick off on Wednesday, November 15, up to 17, 2023, convening leaders and experts worldwide in finance, technology and public policy.
The main theme will revolve around “AI for good. AI for good?” which aims to explore the opportunities and challenges of using AI to transform the financial sector and society.
According to SFF co-organiser the Monetary Authority of Singapore, Generative AI alone can boost global GDP by nearly US$7 trillion in the coming decade, alongside widespread adoption of AI in enterprise operations.
At the same time, there is considerable caution around some inherent risks in AI.
Singapore FinTech Festival 2023 will delve into AI’s promise as well as challenge’s. This will provide a platform to explore a unified vision for the festival With a Focus on AI, FinTech and Innovation, harnessing its benefits while mitigating its risks.
Throughout the SFF, speakers and industry leaders will dwell on discussions on how the financial system can be further improved. They will also look on how to help prepare for future risks in technology and climate. At the same time, they will dwell on powering entrepreneurs and the future tech workforce.
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About AI
Artificial Intelligence (AI) is a powerful and pervasive technology that can transform the financial sector and society for the better. However, AI also poses significant risks and challenges, such as bias, discrimination, privacy, security and accountability.
The Singapore FinTech Festival 2023 is geared towards providing a platform for the global FinTech community to exchange ideas and insights on how to harness AI for good. Likewise, they will also address the ethical and regulatory implications of AI
Singapore FinTech Festival 2023 and United Nations Development Program recognize that AI is a crucial enabler for achieving the UN Sustainable Development Goals. This is because it can help to solve some of the most pressing problems facing humanity. They include poverty, hunger, health, education, climate change and peace.
UNDP is partnering with MAS and other stakeholders to support the SFF 2023. They will showcase how AI can advance social and environmental causes.On the other hand, they will show how FinTech can contribute to global recovery and resilience in the post-pandemic era.
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AI’s Role in Sustainable and Inclusive Finance
Singapore FinTech Festival 2023 aims to discuss the compelling potential of AI in the financial landscape. These will entail elevating services to redefining the architecture of the financial sector.
The event will delve into the key role of AI in accelerating the transition to a low-carbon future. It will also enhance the inclusivity of financial systems for underserved communities.
The festival will address modern risks, including climate challenges, technological advancements, and cyber threats. It will also look on how to prepare the financial ecosystem to withstand digital economy.
SFF’s engaging segments will unravel the future of finance through thematic zones. Discussions will cover the latest advancements in technology, ESG frameworks, regulatory compliance, and more.
The SFF platform offers insightful dialogues and workshops, promising comprehensive insights into the evolving financial technology landscape.
From discussions exploring AI’s potential in environmental goals to sessions delving into the future financial infrastructure, SFF 2023 will provide rich insights into the changing landscape of finance.