The Cambridge Digital Innovation and Regulation Initiative (C:>DIR) will host was is described as the “first of its kind” Agentic Regulator hackathon.
While the financial industry is quite keen on Fintech and artificial intelligence (AI) to support its services and drive efficiency, the regulatory side of the equation tends to always play catch up. While some jurisdictions have made progress in working in tandem with Fintech innovators, many watch on the sidelines.
This gathering seeks to bring Fintechs, including Regtechs, policymakers and regulators alongside academics to collaborate on the development of agentic AI to support financial regulators including central banks and other authorities.
The Hackathon launches with the support of the BIS Innovation Hub, the Global Financial Innovation Network (GFIN) and the Digital Regulation Cooperation Forum (DRCF), as well as over 35 global partners.
Other names on the list include the Network for Humanity, the Ethereum Foundation, Google, SWIFT, Ant International, Moneybox, Innovate Finance, GFTN and the Cambridge Centre for Alternative Finance (CCAF).
The genesis of the project was derived by the fast growing challenges of the public sector and the shortcomings of current tools which simply cannot keep pace with private sector innovation.
Agentic AI for regulators can provide significant improvements and engagement between firms and public sector entities. They can also do this at a lower cost and with less impediment – if created thoughtfully.
The goal of the Hackathon is to enable “supervisors to move at the speed of the markets they oversee, rather than lagging behind them.”
The Hackathon is described as focusing on the following topics:
- Agentic Financial Advice & High-Stakes AI Advisory
- Agentic Payments, Commerce and their Oversight
- Decentralized Market Infrastructure, Smart Contracts and AI Agents
- AI-Driven Fraud and Scams
- Know Your Agent (KY-A), Digital Verification and Digital Public Infrastructure
- Market Manipulation, Agentic Herding & Stability
Bryan Zhang, co-Founder and Executive Chair of Financial Innovation for Impact (Fii) and C:\>DIR Co-Creator, who is also the Executive Director at CCAF, says that Agentic AI is reshaping the economy and the way we govern it. This is creating new regulatory challenges. Bringing together regulators, innovators, researchers from around the world will help public authorities keep pace with “autonomous systems” ensuring compliance at greater speed and with confidence.
Zhang is also on the Board of the UK Financial Conduct Authority (FCA) as a Non-Executive Director.
Carrie Suen, Vice President and Head of Global Affairs and Strategic Development of Ant International says Agentic AI is one of the most exciting opportunities to reinvent commerce but the challenge is to do so without compromising on trust.
The organizers are accepting concept notes from teams beginning today.
Shortlisted teams will take part in a Final Round of prototype build phase.
The Hackathon carries a total prize pool of US$100,000.