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Central bank to provide extra S$100 million for financial institutions to explore new technologies
The Monetary Authority of Singapore (MAS) said on July 18 that it would provide an additional S$100 million (US$74 million) to support the use of quantum computing and artificial intelligence (AI) in the financial sector.
The MAS said in a statement that it would provide the funding under its Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0), a programme aimed at supporting innovation in the financial sector.
In August 2023, it said it would commit up to S$150 million under the
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