Singapore FinTech Festival 2024: Quantum Computing and AI Drive Future of Finance
- Kelvin Tan
- Nov 7, 2024
- 2 min read
Updated: Nov 20, 2024
The Singapore FinTech Festival (SFF) 2024 is currently underway, showcasing the transformative potential of quantum computing and artificial intelligence (AI) as they redefine the future of finance. Now in its ninth year, SFF has evolved into a global platform, organized by the Monetary Authority of Singapore (MAS), the Global Finance & Technology Network (GFTN), and Constellar, in collaboration with the Association of Banks in Singapore. According to Pat Patel, executive director of GFTN, the festival’s goal is to align industry and regulatory efforts to harness these powerful technologies effectively. “If tech companies start to develop new AI use cases that are not in sync with policy… it will lead to wasted capital, effort, and energy,” he emphasised.
This year, a key program, The Founders Peak, is providing start-up founders with a unique space to engage in mentorship sessions and masterclasses, sparking collaboration and fresh ideas. Taking place amid significant global elections, including in the U.S., SFF 2024 is facilitating pivotal discussions around the regulatory frameworks required for advancing AI and quantum computing. With McKinsey forecasting the quantum computing market could reach $131 billion by 2040, there is an urgency to align these technologies with robust policy frameworks. “The processing power of quantum computing is moving at an absolute rapid rate,” noted Patel.
With over 900 speakers and 400 sessions, SFF 2024 promises to inspire participants, encouraging them to dive into new AI applications and the evolving roadmap for digital finance. Patel expressed his hope that the insights shared during the festival will spark a “flywheel effect” of creativity and ambition, propelling fintech innovation forward. This year’s festival is set not only to inform but also to inspire attendees, reinforcing SFF’s reputation as a premier platform for the global fintech community to shape the future of finance and technology.
Article by Kareyst Lin of The Business Times. Read more here or in the PDF below.
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