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End of drawer navigation content Skip to main content Central bank to provide extra S$100 million for financial institutions to explore new technologies

The Monetary Authority of Singapore (MAS) said on July 18 that it would provide an additional S$100 million (US$74 million) to support the use of quantum computing and artificial intelligence (AI) in the financial sector.

The MAS said ina statement that it would provide the funding under its Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0), a programme aimed atsupporting innovation in the financial sector.

In August 2023, it said it wouldcommit up to S$150 million under the

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MAS steps up support for AI and quantum computing capabilities - Central Banking