Senior management will be in charge of ensuring the effective roll-out of AI-related risk management policies and procedures, as well as to guarantee the necessary competence of personnel. The proposal comes as the city-state pushes companies to invest more in workers’ training and join their global peers in adopting AI. The three Singaporean banks, for example, are currently retraining all 35,000 of their local employees over the next one to two years to prepare for AI-triggered changes.
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Singapore Mulls Holding Top Bank Execs Responsible for AI Risks
“It is important for us to understand that the job will change and it’s very hard to keep the same job relevant for a long period of time,” MAS Chairman Gan Kim Yong said this week during the Singapore FinTech Festival.
