DBS Group Research has introduced a new report, “The Trusted AI Financial Hub: How AI and Trust are Reshaping Global Financial Competition,” which explores how artificial intelligence (AI) and trust are transforming global financial centres. The report introduces the Global AI Financial Hub Index (GAIFHI), a framework assessing 15 major financial hubs worldwide based on AI integration, governance, digital infrastructure, talent, and market outcomes.
The report highlights Singapore’s potential as a leading AI financial hub, supported by its Economic Strategy Review (ESR) and the “Champions of AI” initiative. DBS projects that Singapore’s total factor productivity growth could increase by 0.3 to 0.5 percentage points, potentially raising the country’s nominal GDP to USD 1.4t by 2040. This growth is attributed to enhanced productivity, which could lead to better-quality jobs and increased wage growth.
Singapore is identified as the open-market hub closest to achieving full AI integration, thanks to its regulatory coherence and digital identity infrastructure. In contrast, New York leads in AI capability but faces challenges due to governance fragmentation. London is rapidly repositioning with a principles-based AI governance approach, whilst San Francisco excels in AI talent and innovation.
The report underscores that financial leadership in the AI era will depend on a hub’s ability to combine AI capability with trusted governance, making AI-driven decisions as reliable as human-supervised ones. This shift reflects a broader trend where Asian financial centres are gaining influence in digital infrastructure and AI deployment, challenging traditional hubs’ dominance.
