Singapore to Boost AI Research Funds; Start Bank Partnerships

(Bloomberg) — Singapore will introduce two artificial-intelligence programs in finance and government, and allocate an additional S$180 million ($133 million) for research into the technology, according to Deputy Prime Minister Heng Swee Keat.

The first program, a partnership between banks and fintech firms, will focus on helping financial institutions better assess companies’ environmental impact, identify emerging environmental risks, and check against greenwashing, Heng said in an opening speech at Singapore FinTech Festival on Monday. The second aims to improve services in the public sector, he said.

The amount of S$180 million is in addition to S$500 million previously committed to the field, Heng said.

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