This year’s Singapore Fintech Festival surrounds six major themes that will frame 2025.
At the front and centre of discussions is the Roadmap for AI and Quantum.
Of particular focus this year is the boom in generative AI, which uses algorithms to identify patterns within existing data to come up with new content, ranging from text, images, videos and even codes.
The technology is said to hold the potential to radically change the financial services industry, with an EY analysis suggesting that rethinking the financial institution with Gen AI at its core has the potential to create US$200 billion to US$400 billion by 2023, with productivity gains reaching up to 30 per cent by 2028.
In this panel discussion on the Roadmap for AI and Quantum, we looked at where fintech players are at right now when it comes down to generative AI adoption and what the road to achieving an AI-embedded future looks like for them.
We also dived into emerging risks surrounding AI and challenges surrounding the adoption of quantum computing.
Money Matters’ Finance Presenter Chua Tian Tian spoke with Lim Him Chuan, Group Head of Strategy, Transformation, Analytics & Research (GSTAR) and Group Executive at DBS, as well as Phoram Mehta, Senior Director and Chief Information and Security Officer, International Markets at Paypal for more, as part of MONEY FM’s on the ground coverage of Singapore Fintech Festival 2024.
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