Singapore Puts Forward New International Standard of Testing for Generative AI Systems
Singapore has put forward a new international standard (ISO/IEC AWI TS 42119-8) (“Testing Standard“) to standardise the testing methodology for Generative Artificial Intelligence (“GenAI“) systems, aimed at strengthening the foundation for trustworthy Artificial Intelligence (“AI“) testing. This is the first international standard of its kind for the testing of GenAI systems. With the rapid development […]
Best Practices for AI Governance and Risk Management Published for Singapore Financial Sector
In March 2026, the Monetary Authority of Singapore (“MAS“) and the Association of Banks in Singapore (“ABS“) released the following publications, respectively, aimed at guiding financial institutions in the responsible adoption of artificial intelligence (“AI“): The AI Risk Management Toolkit (“Toolkit“) released by MAS on 20 March 2026; and The Handbook on Generative AI Guardrails […]
Facilitating the Safe Adoption of AI – New Initiatives Unveiled at Committee of Supply 2026
Introduction As 2026 marches forward, and the Government sets out its roadmaps for national development programmes, one topic has continued to take a place in the spotlight – the development and deployment of artificial intelligence (“AI“). For example, at the unveiling of Singapore’s Budget 2026, AI stood as one of the key pillars, with […]
Supporting the Safe Adoption of Agentic AI – Singapore Launches New Model Governance Framework for Agentic AI
Introduction The Infocomm Media Development Authority of Singapore (“IMDA“) has launched a new Model Artificial Intelligence (“AI“) Governance Framework for Agentic AI (“MGF for Agentic AI“). This framework for reliable and safe agentic AI deployment is the first of its kind, giving organisations looking to deploy agentic AI a structured overview of the relevant risks […]
New Law on Artificial Intelligence Takes Effect on 1 March 2026
MAS Project MindForge: Driving Responsible Gen AI Innovation in Financial Services
On 13 November 2025, the Monetary Authority of Singapore (“MAS“) announced that Phase 1 of Project MindForge was concluded. Announced on 22 June 2023, Project MindForge is driven by the Veritas Initiative. The aims of Project MindForge are to: Examine the risks and opportunities of Generative Artificial Intelligence (“Gen AI“) technology for financial services. Develop a clear […]
UK-Singapore Strategic Partnership: Empowering AI in Finance
To support safe and responsible artificial intelligence (“AI“) innovation, on 12 November 2025, the Monetary Authority of Singapore (“MAS“) and the United Kingdom (“UK“) Financial Conduct Authority (“FCA“) announced a new strategic partnership on AI in Finance (UK-Singapore AI-in-Finance Partnership). The Partnership will empower AI solution providers in Singapore and innovators in the UK […]