Tokyo FinTech Association’s Post

Late last year I had the privilege of moderating a panel at the Singapore Fintech Festival focusing on how advances in AI could be used to support the development of a Industry-wide utility service. Over the last couple months, Accenture and Elevandi worked together to curate the main points of discussion in a short report, which in short, discusses the possible benefits of such a service (e.g. a multi-institutional platform providing KYC-as-a-service), but also the challenges in achieving this (e.g. data sharing, privacy, consent). If you fancy a read, you can find the report below:) IS FINANCIAL SERVICES READY FOR AN INDUSTRY UTILITY POWERED BY GENAI: https://lnkd.in/gPh3t8_m #artificialintelligence #generativeAI #regulations #sff2023 Irene Liu James H J Gan Joon-Seong Lee Lan Guan Senthil (Sen) Ramani Xuchun Li Deepa Rajagopalan Ph.D. Rupini S. Pandian Dr Tianyou Zhang

The next trends in Australian payments will be enhanced by A.I. - James Vatiliotis, Head of Product at Zeller Read all about it here: https://lnkd.in/gHUuC-qu #AI #AInews #artificialintelligence #technology #tech #technews #australianfintech #fintech #fintechnews #finance #financialtechnology #payments #digitalpayments #mobilepayments

Aiming to address the recent rapid changes in technology, including the dissemination of #generativeAI, the Ministry of Economy, Trade and Industry #METI and the Japanese Ministry of Internal Affairs and Communications #MIC integrated and updated the existing related guidelines and compiled the #AI Guidelines for Business Version 1.0 based on the results of repeated discussions with experts. Key Points 🔹 Basic Philosophies: Emphasizes human-centric AI development and use, respecting human dignity, diversity & inclusion, and sustainability. 🔹 Principles: Outlines principles for AI business actors, including those related to human-centricity, safety, fairness, privacy protection, security, transparency, accountability, education/literacy, fair competition, and innovation. 🔹 Common Guiding Principles: Provides detailed guidelines on how to implement these principles across the AI lifecycle. 🔹 Advanced AI Systems: Offers specific guidelines for AI business actors involved with advanced AI systems, including generative AI. These guidelines focus on risk management, transparency, and responsible information sharing. 🔹 AI Governance: Advocates for agile governance — a continuous process of environmental and risk analysis, goal setting, system design, operation, and evaluation — to manage AI risks effectively. 🔹 AI Business Actors: Provides specific guidance for AI developers, AI providers, and AI business users, highlighting their respective responsibilities and actions. Structure of the Document 🔹 Part 1: Definitions — Defines key AI-related terms. 🔹 Part 2: Society to Aim for with AI — Presents the basic philosophies and principles for AI governance. 🔹 Part 3: Matters Related to AI Developers — Outlines specific considerations for AI developers, including data preprocessing, training, development, and post-development actions. 🔹 Part 4: Matters Related to AI Providers — Discusses responsibilities of AI providers, including implementation, provision, and post-provision actions. 🔹 Part 5: Matters Related to AI Business Users — Details responsibilities of AI business users, including the proper use of AI systems and services. Takeaways 🔹 This document aims to establish a unified framework for AI governance in Japan. 🔹 It encourages a risk-based approach, where the level of measures taken should be proportionate to the level of risk. 🔹 It stresses the importance of collaboration and communication among all AI business actors, including developers, providers, and users. 🔹 It emphasizes the need for transparency, accountability, and continuous improvement in AI governance.

Yesterday was the first day of Lisbon, Law and Tech – an online conference about the future of Law and Technology.   With guest speakers Anu Bradford and Arlindo Oliveira, and Luís Barreto Xavier as moderator, we discussed the key differences between the regulatory approaches of the U.S and the EU and possible measures Europe can take to enhance its competitiveness.   Other key points of the conversation were the importance of a regulatory harmonization (questioning if there is a “Brussels Effect” of the AI Act), the risks associated with AI and some factors beyond regulation that influence innovation in the AI Industry.   Thank you to our invited guests for their invaluable inputs about the relationship between innovation and digital regulation. Don’t miss today’s session “Foundations of a New Economy: Digital Assets, Digital Euro, Digital Wallets”. Register here: https://lnkd.in/eqAh5rBj #LisbonLawandTech #LawandTechnology #OnlineConference #Innovation #Regulation #InstitutodeConhecimento #AbreuAdvogados

Exciting developments in #AI regulation! The European Union is leading the way with the approval of EU AI Act and strict enforcement measures under the Digital Services Act. Recently, EU partnered with the US to advance safe and trustworthy AI technologies. Read more: https://mdy.link/3V28xDZ #Banking #RegulatoryNews #GenAI #DSA

#AI is transforming banking and finance in the Asia-Pacific region. The respective regulators are promoting AI adoption to drive both innovation and efficiency, while ensuring that robust governance and protocols are in place to guarantee ethical and safe AI usage.   From Singapore's comprehensive FEAT principles to Australia’s focus on experimentation, explore our carousel to learn how different APAC markets are approaching AI governance in the financial sector.   #ATxSG #IMDA #RedefiningTech  

While balancing the opportunities and risks of FinTech, particularly AI, may be challenging, that fact alone should not be an excuse for inaction. Please read more here about the likely direction the policymakers and regulators may move in as they grapple with the complex issues presented by the rapidly evolving technological lanscpape.

RegSphere® powered by TITANRP bringing evergreen regulations to over 100 country jurisdictions, guaranteed. Daily monitoring is all part of the service. #RegTech #AI #CloudComputing #RegulatoryCompliance #Fintech #BankingSolutions #Tier1Banking #GenAI #FinancialServices #RegulatoryReporting #ComplianceTech #RegulatoryTechnology #RegSphere #FinancialRegulation #InnovationInBanking #BankingTech #RegulatoryIntelligence

通过储蓄者的眼睛......我的眼睛 Hong Kong’s government has outlined its first guidelines on the “responsible” use of artificial intelligence (AI) during FinTech Week, as regulators strive to get ahead of the curve of a technological revolution that will almost certainly disrupt banking and financial services. Banks, brokers, asset managers and any other financial institution that want to use AI “must formulate an AI governance strategy to provide direction on how [the] systems should be implemented and used, and offer advisory and training services for on-premise deployment”, according to a government press release. “Hong Kong’s financial market is open and prudent towards the application of AI, [so] we will closely monitor the developments and draw on the experiences of the mainland and overseas” because the technology is “constantly evolving”, Financial Secretary Paul Chan Mo-po said during the opening of the FinTech Week event. AI has become the focus of FinTech Week, the ninth year that the annual conference has been hosted by InvestHK and Finoverse. This year’s event, which runs from October 28 to November 1 , will emphasise Hong Kong’s role as the “connector” between international business and China, the world’s second-largest AI market behind the US. About 700 companies are exhibiting at the weeklong event, including SenseTime, Tencent Holdings and ByteDance. #分析#利润#我们将改变#市场

"Whether you’re a seasoned expert or beginning your digital trust journey, the Digital Trust Hui Taumata 2024 has something for everyone. Discover Perspectives on Digital Wallets, Devices and Bots, AI, and Regulatory issues at the Digital Trust Hui Taumata in Wellington 13 August." Read the latest NZTech news here: https://ow.ly/9MpB50SB5SM #nztech #seetomorrowfirst