Monaco's 3rd Wealth-Tech Summit Explores AI in Transforming Financial Frontiers

Monaco recently hosted the third annual Wealth-Tech Summit under the theme “Artificial Intelligence and Investment: New Frontiers in Finance,” a significant event for the financial sector, held at One Monte-Carlo. The summit, organized by the Inter-ministerial Delegation for Digital Transition and the Government’s Attractiveness Unit in partnership with the Monaco Association of Financial Activities (AMAF), attracted over 100 prominent bankers, investors, and financial experts. Key figures such as Frédéric Genta, Inter-ministerial Delegate for Attractiveness and Digital Transition, and Robert Laure, President of AMAF, were in attendance.

This year's summit focused on the transformative impact of artificial intelligence in finance, a topic that Robert Laure, in his opening remarks, described as a current reality redefining the operational, analytical, and client service frameworks within banking institutions. The discussions underscored that AI is pivotal at this juncture for the industry, influencing not just future possibilities but present operations, reshaping roles and responsibilities across the sector.

Experts at the summit highlighted the role of generative AI in revolutionizing financial services, from personalizing investment strategies to enhancing cybersecurity measures. The technology’s capability to detect and respond to security threats in real-time was noted as particularly crucial for making businesses more resilient. The event concluded with a unified acknowledgment of AI’s vast benefits, such as improved asset protection and market forecasting. Frédéric Genta underscored AI’s strategic significance for bolstering Monaco’s position as a leading financial hub, readying the Principality for pivotal technological advancements with the support of global experts and industry professionals.