The regulator states that the handbook and industry workgroup will assist institutions in managing risks from both traditional and agentic artificial intelligence (AI).
The Monetary Authority of Singapore (MAS) has completed the second phase of Project MindForge , an initiative launched in mid-2023 to advance AI risk management within the financial sector . MAS stated that a consortium of 24 banks, insurers, capital market firms, and other industry participants collectively developed an AI risk management toolkit intended to support firms in addressing risks arising from traditional AI systems, generative AI and emerging