The Monetary Authority of Singapore (MAS) has promised an additional S$100 million (74.3 million USD) to bolster the development of quantum and artificial intelligence technologies within the financial sector.
This investment, allocated under the Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0), aims to accelerate the adoption and innovation of cutting-edge technologies among financial institutions.
MAS is collaborating with the National Quantum Office, following the National Quantum Strategy announced by Deputy Prime Minister Heng Swee Keat earlier this year.
To support this initiative, MAS will establish a Quantum track under FSTI 3.0, designed to enhance quantum capabilities within Singapore’s financial sector.
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