Singapore’s central bank issued new guidelines on Wednesday for financial institutions managing risks arising from the use of artificial intelligence (AI). The directive applies to the financial sector in Singapore.
The Monetary Authority of Singapore (MAS) said the guidelines set out supervisory expectations for financial institutions as they manage AI-related risks.
AI risk guidance for Singapore’s financial sector
The guidelines are intended to provide expectations for financial institutions using AI. MAS said institutions should follow the guidance when managing risks connected with the technology.
The announcement focuses on AI risk management across Singapore’s financial sector. The information provided does not detail specific measures or requirements in the guidelines.
