Cambridge Digital Innovation and Regulation Initiative (C:>DIR) will host has been described as the “first of its kind” Agency Editor hackathon.
While the financial industry is keen on Fintech and artificial intelligence (AI) to support its services and improve efficiency, the regulatory side of the equation is always playing catch-up. While some jurisdictions are making progress in working with Fintech innovators, many are watching from the sidelines.
This meeting aims to bring together Fintechs, including Regtechs, policymakers and regulators, as well as academics, to collaborate on the development of agency AI to support financial regulators, including central banks and other authorities.
Hackathon starts with support BIS Innovation Center, Global Financial Innovation Network (GFIN) and Digital Editing Collaboration Forum (DRCF) and we have more than 35 global partners.
Other names on the list include Humanity Network, Ethereum Foundation, Google, SWIFT, Ant International, Moneybox, Innovate Finance, GFTN And Cambridge Center for Alternative Finance (CCAF).
The genesis of the project stemmed from the rapidly growing challenges of the public sector and the shortcomings of existing tools that could not keep up with private sector innovation.
Agency AI for regulators can deliver significant improvements and interaction between firms and public sector organizations. And if they are created carefully, they can do this at lower cost and with fewer obstacles.
The goal of the hackathon is to enable “controllers to move at the pace of the markets they oversee, rather than falling behind them.”
It is stated that the hackathon will focus on the following topics:
- Representative Financial Advice and High-Risk AI Advisory
- Agency Payments, Trading and Oversight
- Decentralized Market Infrastructure, Smart Contracts and AI Brokers
- AI-Driven Fraud and Fraud
- Know Your Agent (KY-A), Digital Authentication and Digital Public Infrastructure
- Market Manipulation, Agency Herding and Stability
Bryan ZhangFounding Partner and Chief Executive Officer Financial Innovation for Impact (Fii) and C:\>DIR Co-Creator, who is also the Executive Director of CCAF, says Agentic AI is reshaping the economy and the way we manage it. This creates new regulatory challenges. Bringing together regulators, innovators and researchers from around the world will help public authorities adapt to “autonomous systems” that ensure compliance faster and more securely.
Zhang is also on the UK Board Financial Conduct Authority (FCA) as a Non-Executive Director.
Carrie MoneyVice President and Head of Global Affairs and Strategic Development Ant International Agentic says AI is one of the most exciting opportunities to reinvent commerce, but the challenge is to do it without compromising trust.
Organizers will start accepting concept notes from teams starting today.
Shortlisted teams will participate in the Final Round of the prototyping phase.
The hackathon’s total prize pool is $100,000.
