Artificial intelligence (AI) has already begun disrupting the financial services industry in Singapore. AI systems are reducing inefficiencies and automating processes, and the government has rolled out a National Artificial Intelligence Strategy to cement Singapore’s leading position in the AI race and create a Smart City. A survey by Refinitiv found that 78% of data scientists in the Asia-Pacifc say that their company makes significant investment in AI and machine learning (ML), and 69% said that AI/ML is a core component of business strategy. By analysing massive amounts of data and removing human objectivity from decision making, AI is poised to transform investing, banking, insurance, and other industries in several dramatic ways. Fewer Physical Locations and Industry Consolidation The widespread adoption of AI will undoubtedly alter the physical geography of the financial services sector. Analysts at Deloitte expect the massive cost of investment in machine learning to drive the consolidation...