Singapore will invest SGD 220 million ($173 million) over the next three years to support fintech innovation and strengthen its position against rival financial hubs such as Hong Kong. The Monetary Authority of Singapore said the funding will focus on talent development and speed up the research, application, and deployment of frontier technologies, including artificial intelligence. The plan includes support for at least 1,000 internship positions and is designed to help the financial industry prepare for wider adoption of advanced technologies. MAS said the initiative aims to further improve the innovation capacity and competitiveness of Singapore’s financial sector.