Elevandi Insights Agenda

'The Investment Outlook' for AI in 2024 and beyond

Where will most business value accrue, and why?

What sectors are likely to be early vs longer term beneficiaries?

Top 3 risk investors should prefer for when investing in AI

Importance of 'Responsible Investing' in AI, in private and public markets

Emerging policy approaches to AI: Removing vs adding barriers

Sectors/ Technologies likely to be more tightly regulated first

10 years older and wiser since social media. Applying lessons learned

The 4 Tier European AI risk framework. Will this go global?

Role of open-source software in shaping AI policy

Benefits and risks of 'Voluntary AI Ethics Framework'

Preparing for disaster

For Investors: 

Are investors too optimistic on AI for the near term

AI might lead to winner takes most. Agree? Y/N. Why

Riches are in niches. What AI niches will create value fastest 

What are blind spots for AI investors

One ask you have from policymakers 

For Policy Experts:

Did AI escape the sandbox?

Are policymakers too slow, while AI accelerates unrestrained

How to solve lack of domain expertise at policymakers 

Do you support a new global AI digital agency? Why so

How do you navigate raising investment in an uncertain policy environment

What is more difficult - raising capital? Or navigating policy

How has change in policy direction impacted what / how you build

If you had one ask from investors, what would that be

If you had one ask from policy makers what would that be

Introduction of NovA! and the Team Behind the National AI Utility

What inspired the inception and convergence of different parties for the creation of the National AI Utility?

Challenges and Solutions

What have been the most significant technological or operational hurdles faced while developing the AI Utility, and how were they overcome?

What steps are being taken to ensure that the industry, government agencies, and the public sector remain synergized in their sustainability goals?

Benchmarking Sustainability Targets

To what international or industry-specific standards are the sustainability targets benchmarked?

How does NovA! ensure the transparency and interpretability of its AI models, especially when analyzing complex sustainability metrics?

What kind of data is the AI model trained on, and how often is it updated to reflect real-time sustainability trends?

Public-Private Collaboration for Sustainability

How has the collaboration between public and private entities influenced the development and functionality of NovA!?

Future of the Collaboration

How will this collaboration influence the future strategy and focus areas for both the public and private sectors involved?

What strategic approaches can real estate organisations adopt to integrate green financing seamlessly into their sustainability agendas?

What are the key considerations and obstacles for real estate owners and developers aiming to utilise green financing for achieving decarbonisation objectives? 

Public-Private Partnership

In what ways can real estate players collaborate with other industries and government bodies to foster a sustainable ecosystem, leveraging AI and green financing?

What are the potential innovative green financing instruments, adaptable to our nation that could incentivise real estate owners and developers to markedly boost the energy efficiency of their buildings?

Which emerging AI-related innovations hold the potential to reshape the landscape of green finance and sustainability within real estate?

How can AI-driven sustainability initiatives enhance the resilience of real estate assets and mitigate risks associated with climate change?

How are international models leveraging AI to advance decarbonisation in real estate and green financing?

Artificial intelligence (AI) presents the opportunity to revolutionise financial services, and change how operations, risk management, and customer engagement can be conducted. With most global financial institutions already embracing AI, the industry is poised for transformative change. 

This roundtable promises a dynamic exchange of ideas between top regulators and leading financial institutions from Asia and Europe, focusing on the latest trends, challenges, and opportunities surrounding AI and its regulation on a global scale. Participants will delve into the dual perspectives: that of financial institutions striving to embrace this technology as swiftly as possible, and the regulator's viewpoint on the burgeoning demand for specific AI regulation.

Two key questions will be explored by participants:

1. What can financial institutions expect from regulators as they navigate their AI journeys (including both hard laws and best practice guidelines)?

2. How can we create the right conditions to catalyse responsible AI innovation and experimentation?

Through this discussion, we aim to uncover common ground and formulate a path that encourages and supports AI innovation and experimentation in financial services, while simultaneously establishing the necessary safeguards and mechanisms to ensure ethical and responsible AI practices.

This roundtable marks the second chapter in the ongoing dialogue about the future of digital banking. In November 2022, we brought together CEOs from leading digital banks across the region for the inaugural discussion on the road ahead for Asia’s digital banks. Now, a year later, we reconvene to delve deeper into the pivotal question of why some digital banks succeed while others falter. Our focus is not only on the challenges but also on showcasing the survivors and champions, elucidating the characteristics that define triumphant digital endeavors.

This discussion will revolve around three overarching objectives:

1. Best-in-class business models and digital strategies which yield profitability

2. Growth barriers to digital banks achieving their digitalisation goals

3. The next technology architecture needed for scale and agility 

While the globalisation of supply chains offers myriad opportunities for MSMEs to scale and access new markets, the call for them to disclose, verify and track their sustainability performances may prove to be a hindrance in accessing the growing pools of green supply chains, business and financing opportunities.

Project Savannah was developed to help these MSMEs overcome the challenges they face in measuring and reporting their environmental, social and governance (ESG) performances. It seeks to do so through capacity building, simplified reporting and more accessible data.

In this session, participants will exchange views on how to strengthen resourcing and incentivisation for MSMEs to undertake such reporting, and how governments, international organisations and private sector players can coordinate support. Additionally, they will discuss how Project Savannah can be scaled more rapidly and efficiently, and to which priority markets, in order for its benefits to be promulgated to areas of greatest need.

This roundtable seeks to establish the foundations for a Project Savannah implementation playbook that outlines deployment strategies, best practices, and actionable steps for current and future participants.

The tide is shifting for the foreign exchange market (FX). Undergoing unprecedented transformation driven by increased regulation, new technologies and structural change of late, improving the workings of FX has now become a mammoth undertaking with complexities surrounding liquidity and transparency too.

Every market player knows that liquidity is king but, in this liquidity, scarce landscape, the perennial question of how it can be unlocked remains unanswered. In this roundtable, we bring together key industry players to address this question and discuss:

The FX evolution amid a payments revolution:
-- A stocktake of FX market trends, and an examination of emerging technology solutions as a source of change and new challenges;

Advancing FX innovation:
--Examining the role of emerging FX instruments in F.O.R.T-tifying operations and streamlining liquidity, all while addressing the components of a new global FX code (Fair, Open, Robust & Transparent);

Liquifying Legacy Systems:
--Exploring the use of new settlement rails in enhancing liquidity settlement and complementing existing arrangements with economies at different stages of development;

Road to T+1 Securities Settlement:
--What this entails for global liquidity in FX Markets.

Real-time payments are transforming digital payments for consumers, businesses and governments by delivering new levels of speed, innovation and efficiency. Today more than 60 countries already have instant (or "fast") payment systems (IPS) that allow these transactions to happen in mere seconds. But sending money abroad is often still slow and expensive.

In this roundtable, participants will seek possible solutions to connect these domestic IPSs internationally, with the goal of improving the speed, cost and transparency of cross-border payments.

Over 80% of countries today are exploring CBDCs, with multiple pilots and experiments helping to drive conviction. But how do we ensure that the tokenised money landscape champions the core tenets of innovation, stability and financial inclusion?

In this roundtable, participants are invited to discuss how interoperability between CBDCs across jurisdictions will influence their evolution. The discussion at Elevandi Insights will build upon conclusions drawn at the Point Zero Forum, delving into the evolution of different forms of digital money, with a particular focus on different approaches to tokenising reserves.

Additionally, the session will explore how CBDCs and tokenised money interact, and how this interaction influences their respective roles. Participants will also explore how the public and private sectors can jointly encourage innovation while managing risks.

This roundtable seeks to understand key challenges faced by financial institutions in driving the net zero transition. Participants will seek to explore effective and sustainable adoption of AI technologies to drive this transition, including examining key barriers and identifying opportunities for industry-wide collaboration and practical next steps.

In a world that moves towards Web3 and decentralisation, the concept and applications of digital public infrastructure undergoes a profound transformation. Traditional implementations, which predominantly involved layering digital services atop centralised infrastructure, have effectively fulfilled their roles in catalysing GDP growth and fostering digital financial inclusion by extending access to underserved populations and creating efficiencies. To make a meaningful impact on today and tomorrow’s global landscape, it becomes imperative to reimagine digital public infrastructure. This reimagination must focus on scalability and investment, unlocking the full potential of a truly cross-border and inclusive model accessible to all.

This roundtable will focus on a series of pertinent questions that arise when looking at a next-generation digital public infrastructure: 

An estimated $4.5 trillion per year in additional investment and finance in emerging market and developing economies will need to be mobilized to achieve the Sustainable Development Goals (SDGs) by 2030.

Emerging markets offer significant potential for investors and businesses due to their vast natural resources, young and growing populations, and increasing consumer demand.

As such, attracting capital inflow in emerging markets and developing economies countries is a critical and dynamic topic that encompasses a wide range of economic, political, and social considerations. The roundtable discussion will provide a platform to explore the key issues and solutions related to funding opportunities in different emerging market and developing economies. This discussion will bring together experts, thought leaders, and stakeholders to share insights, experiences, and strategies to address the challenges and opportunities of financing emerging markets in Africa.

Objectives:

1.    To provide an understanding of the economic landscape and investment opportunities in emerging markets across the world

2.    To identify the key common challenges and barriers to financing emerging markets.

3.    To explore innovative financing mechanisms and strategies tailored to the continental context

4.    To discuss the role of public and private sector partnerships in financing economic growth in emerging markets

5.    To highlight success stories and best practices in different developed countries as examples

This roundtable invites leading venture capitalists, innovation labs and startups to uncover the latest trends, challenges and opportunities of investing in the Asia Pacific.

During the session, participants will explore the growing industries within the APAC that investors can look towards besides AI and take a deep dive into the region to understand the pros and cons of each market, striving to identify the next unicorn. They will also consider the market conditions for investments today, examining whether valuations have indeed hit the bottom and discuss whether or not to buy the current dip.

Further, participants will discuss the macroeconomic and geopolitical challenges to be wary of in 2024 and beyond.

Financial institutions, supervisors, and academia around the world recognize that extreme climate events, as well as a disorderly transition to a low-carbon economy, could have destabilizing effects on the financial system. Climate-related financial risks, stemming from physical and transition risks, pose new challenges to financial authorities and institutions because they are subject to substantial uncertainty, long time horizons and tail-risk. The possible simultaneous occurrence of climate-risks across multiple jurisdictions and sectors also has implications for financial soundness.

To better understand how these climate-related physical and transition risks affect financial soundness, the BIS Innovation Hub Singapore Centre is hosting a roundtable at the Singapore FinTech Festival. The roundtable brings together central bankers, industry experts, and thought leaders from academia and the private sector to advance the discourse on how to bolster the financial sector’s resilience to environmental risks.

The roundtable discussion is split into two parts. In the first, participants will provide insights on both private and public sector programs/projects and use cases to bolster the resilience of financial institutions to environmental risks. In the second, participants will look ahead and share their views on how we can further develop our efforts to prepare financial institutions for the climate-related challenges to come.

There has been widespread interest regarding the use of GenAI – ranging from the amazing possibilities it unlocks for organisations, to the development costs/accessibility required to adopt new technologies. Join us for a discussion on whether the financial services industry is ready to collaborate on developing an industry utility powered by GenAI, and if the benefits will outweigh the costs of doing so.

The UNDP, MAS, and other international parties have launched a concept called Universal Trusted Credentials (UTC). This unique concept will enable MSMEs to create digital identities and trusted credentials through a non-collaterized set of date points. Once these UTC are accepted by financial institutions, MSMEs will be able to access a wider and deeper level of financing. This concept has a huge potential to uplift MSMEs globally.

The UNDP will host a session for UTC introducing it as a concept, highlighting its current progress, and seeking areas for which it could further advance. The panel members include senior central bank leaders and financial institution partners. 

The aims of the session are to:

1.    Advance industry thinking on UTC and specifically around process and benefits.

2.    Harness collective experience and best-practices.

3.    Connect with different countries in order to expand and deepen UTC use in represented markets.

Tokenisation of financial and real economy assets is estimated to accelerate the pace of digitalisation and impact the broader economy beyond financial services. Despite good progress in asset tokenisation experimentations and pilots, the lack of FMI compliant digital infrastructure which financial institutions can use to execute digital asset transactions prevents financial institutions’ ability to deploy digital assets at scale.

This roundtable discusses the importance for multilateral platforms to be powered by open and interoperable networks amongst global banks and regulators. Moderated by Tommaso Mancini-Griffoli, Division Chief in the Monetary and Capital Markets Department at the International Monetary Fund and Alan Lim, Head of the FinTech Infrastructure Office at the MAS. 

This roundtable will discuss the role of digital assets in expanding the opportunities and value capture for capital markets as well as the learnings in the various asset classes.

IFC, WEF, and MAS are collaborating to progress digital inclusion through innovative financing products. This initiative will advance consistent and equal access to digital information, services, and products to benefit underserved individuals, communities, and businesses, particularly Micro Small and Medium Businesses (MSMEs). The tri-party partnership will create a digital inclusion framework to guide how they work with Asian financial ecosystems to raise financing and/or investments. 

During this session, an IFC leader will introduce the new digital inclusion investment products and sign a ceremonial MOU with IFC and MAS. The panel will progress to discussing the financing implications of digital inclusion and then products or platforms that may effect digital inclusion.

Generative AI: The Future of Consumer Financial Protection?

1. Risks to Financial Consumers from Generative AI: What are the potential risks and challenges that financial consumers might face due to the widespread adoption of generative AI in the finance sector?

2. Potential Benefits for Financial Consumers from Generative AI:How can generative AI bring about potential benefits and improvements in services for financial consumers and consumer financial health. What are some examples of its positive impact?

3. How Generative AI Might Be a Useful New Tool for Regulators: In what ways can regulators harness the capabilities of generative AI to enhance their monitoring, oversight, and policymaking in the financial sector?

Disparate regulatory and policy frameworks are some of the biggest obstacles to smooth cross-border payments. They expand the regulatory compliance burden across teh payment chain, increase the time for cross-border transactions, and introduce potential uncertainties among stakeholders.

In this roundtable, central bankers, industry experts and thought leaders from academia and the private sector are invited to advance the discussion on priority actions for achieving the G20 targets for enhancing cross-border payments in promoting an efficient legal, regulatory, and supervisory environment for cross-border payments while maintaining their safety, security, and integrity.

The first part of the roundtable will focus on expanding insights around existing challenges surrounding compliance in cross-border payments, policy, and regulatory interoperability. Meanwhile, the second part will explore the role of technology and standards, and their potential to improve policy and regulatory compliance outcomes for all stakeholders.

In a world that moves towards Web3 and decentralisation, the concept and applications of digital public infrastructure undergoes a profound transformation. Traditional implementations, which predominantly involved layering digital services atop centralised infrastructure, have effectively fulfilled their roles in catalysing GDP growth and fostering digital financial inclusion by extending access to underserved populations and creating efficiencies. To make a meaningful impact on today and tomorrow’s global landscape, it becomes imperative to reimagine digital public infrastructure. This reimagination must focus on scalability and investment, unlocking the full potential of a truly cross-border and inclusive model accessible to all.

This roundtable will focus on a series of pertinent questions that arise when looking at a next-generation digital public infrastructure: 

Discussions on the regulation of decentralised finance (“DeFi”) have picked up pace over the past year. In the vein of the Financial Stability Board’s “same risk, same activity, same regulation” framework for regulating digital assets, many regulators have turned to the concept of activity-based regulation when looking at DeFi, stating that obligations apply to regulated activities even if they are decentralized.

The International Organization of Securities Commissions (IOSCO) has offered more specific recommendations on how supervisory oversight could be applied in its proposed policy recommendations for decentralized finance. The recommendations centre around the concept of ‘responsible persons’, who may be subject to regulation for DeFi arrangements, and applying risk management, disclosures and other obligations onto such persons.

In this roundtable, we bring together policymakers and industry participants to discuss possible frameworks for DeFi regulation, covering:

1. “Same risk, same activity, same regulation”: How can we bring practical clarity of this concept to the DeFi space?

Tokenisation has taken the financial world by storm, promising a new paradigm of securities issuance, settlement, and distribution. Indeed, 2021 – 2023 has seen the completion of various high-profile proof of concepts (POCs), showcasing the transformative potential of the technology.

How close is the industry to commercialisation? What are the pathways to sustainable revenue?

Join Marketnode, Boatload Ventures, Franklin Templeton and HSBC as we conduct a workshop discussing the state of affairs in Asia-Pacific, with a focus on tokenised fixed income, funds and structured products.

In today's rapidly evolving technological landscape, Artificial Intelligence (AI) stands out as one of the most discussed yet frequently misunderstood innovations in the financial sector. While AI's potential is often extolled with grand predictions, what practical implications does it currently hold for financial services?

Hosted by Gradient, a leader in domain-specific AI solutions, this workshop offers attendees an in-depth exploration of the concrete applications of AI within the financial domain. Drawing from their experience and platform capabilities, Gradient will share how AI is shaping advancements in risk assessment, fraud detection, personalized banking, and innovative investment strategies.

The session will further address the constraints and concerns surrounding AI's integration, from data privacy issues to potential biases in algorithmic decision-making. Attendees will leave with a clear perspective on the immediate and long-term value AI can bring to financial operations, strategies, and customer experiences, separating the practical from the purely speculative.

Financial inclusion can be accelerated only when you operate at scale. Digital-first financial institutions are best placed to reshape financial services and promote financial inclusion. Technology allows for aggregation which drives financial inclusion. The efficiencies brought about by technology allows innovative institutions to drive down their costs of operations, and therefore make their products and services more accessible to the public.

Hyper-scalability through advanced technology makes firms more resilient and more flexible, and better placed to financially include millions of underbanked and underserved people in emerging markets. Join Oradian’s CEO, Antonio Separovic, and Lowell Campbell, Global Digital Finance Specialist at IFC - World Bank Group and [others], as we discuss how digital finance is creating a more flexible, sustainable industry, and allowing digital-first financial services firms to fulfil that social role.