What is the AIDA Grant?

The $27 million Artificial Intelligence and Data Analytics (AIDA) Grant under the Financial Sector Technology and Innovation (FSTI) Scheme aims to promote the adoption and integration of artificial intelligence (AI) and data analytics in financial institutions.

The AIDA Grant focuses on two tracks: the financial institution track and the research track.

Financial Institution Track

The AIDA Grant will co-fund up to 50% of project costs for Singapore-based financial institutions which leverage AI and data analytics techniques to generate insights, formulate strategy, and assist in their decision making.

These techniques may include:

• Machine learning
• Natural language processing or text analytics
• Deep learning or neural networks
• Predictive and prescriptive analytics

Research Track

The AIDA Grant will co-fund research institutions’ AI or data analytics projects which have clear applications for Singapore’s financial sector.

To strengthen the research ecosystem and facilitate stronger industry applications in Singapore, the projects should demonstrate local knowledge transfer and industry sharing.

The AIDA Grant will provide up to 70% co-funding for eligible projects. The grant will also provide funding for research projects submitted through periodic calls for proposals on specific AI or data analytics topics that benefit the industry.

How to Apply

Applications are now open for both the Financial Institution Track and Research Track.

You may email us at AIDA_Grant@mas.gov.sg  to request for an application form. You may also submit an enquiry  if you require more information.