Singapore’s central bank wants all FinTech AI use cases subject to independent review

Singapore’s Monetary Authority, which acts as both central bank and finance industry regulator, wants all local industry players to seek independent review of AI use cases before deployment. The island nation’s combination of strict regulation and low taxes have made it one of the world’s premier finance hubs. One of the roles of Singapore’s Monetary Authority (MAS) is ensuring the nation retains that status, but in its first Guidelines on Artificial Intelligence Risk Management for Financial In