BCG estimates that (Gen) AI can bring 30-50% efficiency improvement, impacting all the key elements of financial services value chain. Fintechs, Banks, Insurers are announcing great value delivered with Pilots, POCs, experiments but acknowledge that scaling is not straightforward. 
 
In the 2023 (Gen) AI roundtable we covered the potential for Financial Institutions, prominent use cases, discussed challenges and aligned on key imperatives required to scale and achieve value. 
 
12 months later it's time to count the chickens. This roundtable aims to bring together AI practitioners, FI executives, policy makers and thought leaders to discuss the proof of value, Gen (AI) at scale and what it takes to achieve it. 
 
Key discussion points: 
 
1. Proof of value in FIs - where's the promised transformative impact? 
2. What are the lessons learned from transformative implementations 
3. How do we solve the remaining challenges of scaling from business, tech and risk angle?
4. What role can regulator and ecosystem play in accelerating transformation?

Organised by Elevandi in partnership with the Monetary Authority of Singapore (MAS), the 9th edition of the Global FinTech Hackcelerator is seeking innovative and market-ready solutions that utilise technologies such as AI, machine learning and blockchain to improve financial health.

Six problem statements around the theme of Financial Health had been curated this year:
- Problem Statement 1 – Improving credit access with open banking​
- Problem Statement 2 – Accelerating financial literacy and education​
- Problem Statement 3 – Building good financial habits with data and personalisation​
- Problem Statement 4 – Efficient and affordable cross-border payments for trade and global remittances​
- Problem Statement 5 – Legacy planning for financial resilience​
- Problem Statement 6 – Affordable and personalised protection with open insurance​

Up to 20 finalists will be selected to pitch their solutions at the world’s gathering of policy, finance, and technology on 6 Nov 2024. The Grand Champion will be crowned at the FinTech Awards dinner on 7 Nov 2024.