4 actions drive finance AI success

Getting AI right in finance isn’t just about investing the most time or money. Four implementation behaviours are the most important in quickly delivering finance artificial intelligence (AI) initiatives that meet or exceed the expected impact and deliver critical finance and business outcomes, according to Gartner, Inc. “The use of…

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AI utility NovA! to unlock opportunities

NovA! will assist FIs to set appropriate sustainability performance targets. The Monetary Authority of Singapore (MAS) announced today the first use case of NovA! to help financial institutions (FIs) assess the sustainability performance of Singapore’s real estate sector. NovA!, part of the National Artificial Intelligence (AI) Programme in Finance, is…

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EGAT drives sustainable operations with IBM AI

The integrated insights from all power plants allow EGAT to predict asset failure and maintenance. Electricity Generating Authority of Thailand (EGAT), an agency that oversees the Thailand’s power security under the Ministry of Energy, announced today that it has expanded the use of AI-powered asset management solutions to all power plants. This includes…

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SLAs are a point of disconnect

More than one IT leader has stated that they feel that SLAs are ‘pointless. Enterprise technology customers are currently dissatisfied with service-level agreements (SLAs) that accompany telecoms services, according to GlobalData. The leading data and analytics company notes that current SLAs are rooted in old-fashioned telco thinking and do not…

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Google engineer claims AI is sentient

LaMDA claims it has a consciousness. Google engineer Blake Lemoine has claimed he has had a conversation with a Google that shows it’s become sentient. In response to the claim Google has suspended Lemoine, according to several media outlets (https://amp.theguardian.com/technology/2022/jun/12/google-engineer-ai-bot-sentient-blake-lemoine). Lemoine has published the conversation he and a colleague had…

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Singapore grows trust in the digital environment

National Digital Trust Centre and co-creates the future of AI standards and governance. Josephine Teo, Singapore’s Minister for Communications, and Information announced the launch of the Digital Trust Centre (DTC) to lead Singapore’s research and development efforts for trust technologies, and support talent development in this space. She highlighted that as technology evolves, new…

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Mastercard in court for alleged misuse of market power over card payments

Alleged anti-competitive conduct commenced in late 2017. The ACCC has instituted proceedings in the Federal Court against Mastercard Asia/Pacific Pte Ltd and Mastercard Asia/Pacific (Australia) Pty Ltd (together, Mastercard), for allegedly engaging in conduct with the purpose of substantially lessening competition in the supply of debit card acceptance services. Mastercard’s…

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Singapore launches world’s first AI testing framework

Invites companies to pilot and contribute to international standards development. Singapore launches A.I. Verify – the world’s first AI Governance Testing Framework and Toolkit for companies who want to demonstrate responsible AI in an objective and verifiable manner. This was announced by Singapore’s Minister for Communications and Information Josephine Teo at the World…

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Australia’s spending on artificial intelligence to double

The primary goal is to prevent fraud and identify threats advance. Australia’s spending on AI systems will grow to $US3.6 billion in 2025, representing a compounded annual growth rate of 24.4 per cent for the period of 2020-25. Organisations have increased their investment in artificial intelligence (AI) to keep up…

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