We will introduce a new AIDA-Lite track to support financial institutions adopting existing AI solutions in the market. We will require all AIDA applicants to work with the Institute of Banking and Finance (IBF) to actively look out for at-risk workers impacted by AI adoption, and to develop a training plan to keep them employable. To sum up, the enhanced FSTI 2.0 renews and anchors MAS’ resolve to support the financial industry in its journey … a journey of continued innovation and experimentation; deepening our local talent pool in new technologies; and 4/5  BIS central bankers' speeches  better serving our societies – here in Singapore and across the world. 5/5  BIS central bankers' speeches
In fact, this is the first crisis episode when the initial reaction of the National Bank was loosening and not tightening the MP. This time, despite the strategy of de facto fixed exchange rate, solid fundamentals and strong official reserve buffers allowed for loosening of the monetary policy and adopting regulatory flexibility. Also, our initiative for access to the ECB backstop facility, which was also supported by other central banks in the region, and the positive ECB response, allowed for wider space for accommodative policies. The symbiosis of these actions has enabled conducive financial conditions, i.e. decline of borrowing interest rates at historically low levels and uninterrupted credit flows growing at a rate of 6% annually, double than in the EU, that helped "ring –fencing" of the labor market, preserving wages and jobs. Where do we stand now, what are the major challenges ahead and is it time for complacency? A common denominator for all policy makers at the moment is the lingering uncertainty. Many scenarios are in place, from smooth and orderly recovery, through strong rebound with price pressures, ending to stalled recovery amidst new and more virulent strains. From a central bank perspective, our advantage is that there is still policy room for maneuver, although narrowed.