Singapore’s financial sector is set to benefit from a new initiative aimed at boosting artificial intelligence (AI) adoption. Announced by Chee Hong Tat, Minister for National Development and Deputy Chairman of the Monetary Authority of Singapore, the PathFin.ai knowledge hub was launched at the Institute of Banking and Finance Distinction Evening on 9 October 2025. This hub is designed to facilitate peer learning and improve AI implementation across financial institutions (FIs).
The PathFin.ai programme, which already includes over 80 FIs, will now feature a knowledge hub showcasing successful AI use cases in areas such as sales, marketing, and risk management. “We can learn from one another to shorten the learning curve,” Chee stated, emphasising the importance of knowledge exchange in uplifting the sector.
The financial sector, which contributed 14% to Singapore’s GDP in 2024, is a key area for growth, having added over 2,000 net jobs for locals in the first half of this year alone. The adoption of AI is expected to further enhance job creation and economic growth. McKinsey estimates that generative AI could add up to S$550b in value annually to the global financial sector.
To support this growth, the Monetary Authority of Singapore (MAS) plans to consult the industry on AI risk management guidelines and publish an AI risk management handbook. This will guide FIs in deploying AI responsibly, ensuring they remain competitive whilst managing risks effectively.
The initiative also focuses on preparing the workforce for an AI-enabled future. MAS and the Institute of Banking and Finance (IBF) have partnered with 10 pilot FIs to explore the impact of AI on specific job roles, aiming to upskill and reskill employees. Award-winning institutions like DBS, HSBC, and OCBC are already leading efforts in workforce transformation.
The PathFin.ai hub represents a significant step in ensuring Singapore’s financial sector remains at the forefront of AI innovation, promising a future of sustained growth and job creation.
