A point from MAS Chairman Gan Kim Yong’s remarks at the IBF Distinction Evening last week deserves attention beyond the financial sector: as AI changes how professional work is performed, responsibility does not move with the task.
The speech identified three potential benefits of AI—higher productivity, better client service and stronger risk management.
At the same time, it emphasised the continuing importance of professional expertise, responsible use and job redesign. For operational roles, the capabilities highlighted included exception handling, risk oversight and the validation of AI-generated output. In the advisory context, the professional remains responsible for the advice given, not the AI tool.
This distinction is important.
AI may increasingly perform analysis, checking and documentation, but organisations must still determine:
- who remains accountable;
- which decisions require human review;
- how exceptions are escalated; and
- whether actions can be properly reconstructed.
Although the remarks were directed at the financial sector, the underlying principle is relevant to other regulated professional services.
Effective AI adoption requires more than introducing new tools. It requires a deliberate redesign of roles, controls and training so that improvements in efficiency and client service do not come at the expense of professional judgment or regulatory responsibility.
Author
Calvin Zhang
Chief Compliance Officer, AlgoCandy
Singapore CSP Compliance | AML/CFT/CPF Regulatory Implementation | Compliance Technology & Training
