Daniel Wu

This roundtable reflects Elevandi’s commitment to supporting inclusive policy making in AI & Quantum, which included the 2023 Singapore FinTech Festival’s Outlook of AI and report “Global AI Governance: Convergence or Fragmentation?”.

Financial services (FS) have much at stake and much to contribute to the AI technology and standards work currently underway; however, FS firms and their regulators are not necessarily at the center of the debate. Financial grade validation and trust are essential for new developments in GenAI and LLM to be fully employed for customer facing use cases in financial services. The increasing move to third party models and technology development outside the firewall are challenging the well-established governance frameworks FIs had put in place for predictive AI and machine learning. At the same time, existing data and cloud access frameworks are integral to determining how AI develops, is accessed, and the outcomes it delivers for the economy.

Moving forward, links between roles, standards, technology design, and data frameworks will determine the trajectory for AI development and outcomes across markets. Operating under the theme of Forming Frontier Tech, this roundtable led by the Institute for International Finance will convene industry leaders, technical experts, and policy makers in a dialogue to identify key points and links between technology design and development, standards and regulations, the path for adoption, and the prospects for deployments.

Attendees who wish to familiarise themselves with the topic may refer to the reference materials below.
- Primer on AI: Governing Self-learning Intelligent Systems
- Outlook of AI
- Global AI Governance: Convergence or Fragmentation?