May 13, 2024

Navigating the Intricacies of Artificial Intelligence in Singapore's Securities Sector


Other Author      Maria Chang, senior associate of PKWN

In the ever-evolving world of securities and financial services, artificial intelligence (AI) has emerged as a virtuoso, seamlessly weaving its way through the intricate tapestry of the industry via its use in trading platforms, investment strategies and even regulatory compliance processes.

In the same way that it has gracefully orchestrated its way into the securities industry of a global financial hub like Singapore, the use of AI has similarly captured the attention of key industry players along with another important audience member - the regulatory authorities.

As the tempo of technological innovation quickens its pace, Singapore has made the strategic move of taking centre stage to lead the charge in re-assessing its existing regulations and developing a robust regulatory framework to ensure the responsible and ethical use of AI in such a critical sector.

Despite being in the early stages of its symphony, the state regulators have meticulously crafted a set of guidelines and principles to guide the industry in finding the delicate balance between fostering technological innovation and mitigating unnecessary risks.

This Legal Update delves into the legal and regulatory landscape governing use of AI in Singapore’s securities industry; exploring key players, guiding melodies and the harmonies that may lie ahead. It plays out a captivating performance that intricately interplays between technology, finance and regulation – and highlights Singapore’s commitment to shaping the future of technological advancement in this dynamic industry.

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