AI GUIDE FOR BOARDS IN SINGAPORE
Section III: Governance and Oversight
6.1.2 Sector-speci c frameworks
fairness, governance expectations and risk boundaries.
AI governance has a sector-speci c opportunity.
Singapore’s principles-based approach provides exibility, but also increases accountability on boards and senior management to demonstrate that governance controls operate eectively in practice.
As an example, within nancial services, the Monetary Authority of Singapore has established the FEAT Principles covering Fairness, Ethics, Accountability and Transparency. ese principles emphasise that organisations must be able to explain not only what an AI system does, but also how outcomes remain aligned with customer
Boards must demonstrate that AI governance operates coherently across data governance, customer outcomes, operational resilience and risk oversight.
Monetary Authority of Singapore: FEAT Principles
Fairness
Ensuring algorithmic models do not inadvertently introduce systemic bias or discriminatory outcomes. Aligning AI behaviour with institutional values, public trust and broader societal standards of conduct. Maintaining clear, non-delegable human ownership over automated outputs and operational exceptions. Providing explainable model logic so that aected users can inspect and contest adverse determinations.
Ethics
Accountability
Transparency
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