SINGAPORE, November 9, 2023 – From November 15-17, 2023, all roads in Singapore will lead to the 3-day Singapore Fintech Festival (SFF), which will take place at the Singapore Expo for the gathering of significant names in the global financial technology industry as they descend on Singapore for an industry-changing event.
AsiaBizToday is gearing up to provide unparalleled insights into key transformation strategies at the intersection of trade, finance, technology, and infrastructure at the SFF 2023, which features top financial leaders covering the market outlook, economic trends, and opportunities.
In June this year, the Monetary Authority of Singapore (MAS) and Elevandi, a not-for-profit entity established by the MAS to connect people and businesses, ideas and insights in the FinTech sector in Singapore and globally, announced the theme of the Singapore FinTech Festival (SFF) 2023 – ‘Applications of Artificial Intelligence (AI) in Financial Services’.
SFF 2023 will focus on the growth and use of AI, as well as how this technology can potentially be employed in financial services, in the coming days. This year’s SFF is organized by MAS and Elevandi in partnership with Constellar and in collaboration with The Association of Banks in Singapore, with The Capital Meets Policy Dialogue, Elevandi Insights Forum, and the annual Innovation Lab Crawl taking place on November 13 and 14. It will bring together executives from government, finance, investment, and technology.
According to data from analytics firm Similarweb, ChatGPT, the popular chatbot from OpenAI, is predicted to have surpassed 100 million monthly active users in January, just two months after launch, according to a UBS report dated 2 February 2023. According to the analysis, AI applications and usage will continue to rise exponentially in 2023, with venture capitalist investments in Generative AI reaching a new high of US$2.6 billion in 2022. CB Insights discovered that 2022 was a record year for generative AI firms, with equity funding totaling $2.6 billion across 110 deals.
According to the UBS report, generative AI will have the quickest consumer adoption rate in history. Financial industry leaders are eager to learn how AI may help establish higher resilience in financial services. SFF 2023 will look at how technologies like AI and Web3, as well as digital public goods, can help to speed the transition to a low-carbon future and reimagine financial system design to better serve the disadvantaged. There will also be an emphasis on protecting the digital economy from modern climate, technological, and cyber threats.
The event is divided into five themed zones, each of which hosts deep-dive debates and educational sessions, as well as exhibiting new solutions from top organizations:
• The Technology Zone will provide attendees with an insight into present and future technologies influencing financial services, such as digital assets, and will showcase the most recent breakthroughs in AI applications.
• The ESG Zone will highlight the Environmental, Social, and Governance financial services ecosystem, which includes financial institutions, real economy solutions, Internet of Things manufacturers, and sustainable micro start-ups. • The Regulation Zone will provide a forum for international financial policymakers and regulators to share insights on their regulatory and development strategies, as well as RegTech and SupTech solutions in the areas of regulatory compliance, cyber security, and data analytics.
• The startups Zone is a dedicated network for connecting financial services startups, entrepreneurs, and investors from around the world. The Founders Peak stage, a popular forum where extraordinary founders share insights on successful entrepreneurship, will also return to SFF 2023.
• The Talent Zone will build on the trademark Talent Pavilion to improve learning, upskilling, and the future of work by presenting governmental and private sector talent development initiatives. The Zone will also host two hackathons, Global FinTechHackcelerator and PolyFinTech100, where potential IT talent can demonstrate their expertise.
The Capital Meets Policy Dialogue, Asia-Pacific Chapter, will convene policymakers, regulators, and investors on November 13. Elevandi will host the Africa Chapter of the Dialogue in Rwanda and the European Chapter in Switzerland in June 2023, following the success of the maiden Dialogue at SFF 2022. The Asia-Pacific Headline Dialogue at SFF 2023 will thereafter focus on policy and regulatory goals, as well as significant areas of AI investment.
The Elevandi Insights Forum, set for November 13-14, will feature deep-dive roundtable discussions with public and private sector organizations to address issues in scaling up digital finance, ranging from frictions in cross-border data flows to varying maturity in digital infrastructure. Last year’s Forum resulted in the publication of nine publications based on the 22 roundtables held by public sector organizations such as the Asian Development Bank, BIS Innovation Hub, International Finance Corporation, and International Monetary Fund.
The ChatGPT and AI in Finance certificate programme will be introduced for SFF pass holders in collaboration with the National University of Singapore Asia Institute for Digital Finance. It will include self-paced online classes as well as unique industry presentations by Festival luminaries. Participants may also look forward to the day-long thrilling Innovation Lab Crawl on November 13 and 14, as well as the SFF Global FinTech Awards gala event on November 16.
The Innovation Lab Crawl will take place in a variety of places in Singapore. Take a look inside Singapore’s most cutting-edge FinTech innovation laboratories. The Lab Crawl allows attendees to go into innovation laboratories and see the most recent up-and-coming initiatives and breakthroughs in the FinTech industry.
The Singapore Global FinTech Awards recognize innovative FinTech solutions provided by FinTech companies, financial institutions, technology companies, as well as individuals and companies who have contributed to the creation of new growth opportunities, the transformation of FinTech industry practices, and the promotion of financial inclusion. This event, however, is strictly by invitation only.
Singapore EXPO is located in the eastern portion of Singapore, with just one MRT stop or a 5-minute drive from Changi International Airport and a 15-minute drive from the Central Business District (CBD).
It is immediately adjacent to the Changi Corporate Park, a corporate hub that contains high-tech industries, knowledge-intensive facilities, and multinational corporations. In addition, motels, a broad variety of food and beverages, and shopping stores are all nearby.