SINGAPORE: In a significant move to bolster technological advancements in the financial sector, the Monetary Authority of Singapore has pledged up to $100 million to support the integration of artificial intelligence and quantum computing.
The newly allocated funds will be channelled through various grant categories designed to foster innovation and enhance security in the sector. This grant is designed to encourage financial institutions to experiment with and adopt quantum technologies, potentially revolutionizing how complex financial problems are solved.
In addition to the quantum track, MAS has announced enhancements to the AI and data grant scheme under FSTI 3.0.
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