Prof Will Cong Joins Nanyang Business School as New Leader for GIFTS

In a significant development for higher education in Singapore, Prof Lin William Cong, widely known as Prof Will Cong, has been appointed as the President’s Chair Professor of Finance, Computing and Data Science at Nanyang Technological University (NTU) Singapore's Nanyang Business School (NBS). He will also serve as Associate Dean for Global Engagement and Convergence Initiatives, with a joint appointment in the College of Computing and Data Science (CCDS). Most notably, Prof Cong will head the newly established Global Institute of Finance, Technology and Society (GIFTS), NTU's flagship research institute dedicated to exploring the intersections of finance, technology, and societal impacts.

This appointment, announced on March 31, 2026, underscores NTU's commitment to positioning itself at the forefront of interdisciplinary research in artificial intelligence (AI), financial technology (FinTech), and digital economics. Singapore, already recognized as Asia's leading FinTech hub with over 1,600 firms and comprising more than 59% of ASEAN's FinTech funding, stands to benefit immensely from such initiatives. GIFTS aims to bridge scholars, policymakers, and industry leaders to tackle pressing challenges in an increasingly AI-driven economy.

Background and Academic Journey of Prof Will Cong

Prof Will Cong brings an illustrious career spanning top global institutions. Prior to NTU, he held the Rudd Family Endowed Chair in Management and Finance at Cornell University's SC Johnson College of Business, where he also founded and directed the FinTech Initiative. Earlier, he was on the finance faculty at the University of Chicago Booth School of Business. His educational credentials are equally impressive: a PhD in Finance and MS in Statistics from Stanford University, complemented by an AM in Physics and AB in Math & Physics (summa cum laude, top of Physics department) from Harvard University.

With over 9,200 citations on Google Scholar and an h-index reflecting his influence, Prof Cong's research has profoundly shaped fields like blockchain economics, tokenomics (the study of token-based incentives and valuation in digital platforms), and AI applications in finance. Notable publications include "Blockchain Disruption and Smart Contracts" (1,922 citations, Review of Financial Studies) and "Tokenomics: Dynamic Adoption and Valuation" (976 citations), which explore how decentralized technologies reshape financial systems. His work has earned accolades such as the Kauffman Foundation Junior Faculty Fellow, Poets & Quants 40 under 40, and over 100 best paper prizes.

Born in Shenyang, China, and having lived in Canada, Singapore, and the US, Prof Cong's global perspective aligns perfectly with NTU's international outlook. He has advised major firms like a16z, BlackRock, Chainlink, and regulators including the US SEC, FBI, and Monetary Authority of Singapore (MAS).

Understanding GIFTS: NTU's New Flagship Institute

GIFTS, the Global Institute of Finance, Technology and Society, represents NTU's bold step into transdisciplinary research. Unlike traditional centers, GIFTS integrates finance from NBS with computing and data science from CCDS to address real-world issues like AI governance, on-chain economies (where blockchain transactions form economic activities), and sustainable digital finance. Prof Cong envisions it as a hub where economists, computer scientists, and policymakers co-create solutions for an "agentic economy," where AI agents act autonomously in markets.

The institute builds on NTU's strengths: NBS's rising global rankings in finance (QS Accounting & Finance 2026 places NTU high in Asia) and CCDS's leadership in AI education and research. CCDS, NTU's dedicated college for computing, data science, and AI, equips students with skills for the data-driven future, making it an ideal partner for GIFTS.

Strategic Alignment with NBS and NTU's Vision

Under Dean Jun Yang, who assumed leadership in July 2024, NBS is undergoing transformation. Prof Yang, former Professor of Finance at Indiana University with expertise in contracting and governance, is retooling programs like the four-year BBus with Honours for the AI era starting 2026. Her vision emphasizes interdisciplinary integration, aligning seamlessly with Prof Cong's appointment.

Prof Cong cited NBS's "outstanding scholars, collaborative colleagues, and leadership" as key attractions, particularly Dean Yang's strategy to elevate NBS within NTU's ecosystem. This move supports NTU's broader push, including the recent UOB Innovation Hub for deep-tech startups and AI-FinTech programs like the FlexiMasters in Financial Technology.

Prof Cong's Research: Pioneering AI and FinTech Frontiers

Prof Cong's scholarship focuses on how information, incentives, and technologies like AI and blockchain reshape economies. Step-by-step, his tokenomics framework analyzes: (1) token design for adoption, (2) valuation under dynamic incentives, (3) policy implications for central bank digital currencies (CBDCs). For instance, his paper on decentralized mining pools reveals centralization risks in blockchain networks, informing MAS regulations.

• AI for social science: Generative models for economic forecasting and decision-making.
• FinTech regulation: Detecting wash trading in crypto exchanges via data analytics.
• Sustainability: Ripple effects of policies like fishing bans on financial markets.

At GIFTS, these will translate into real-world applications, such as AI-driven AML (anti-money laundering) tools developed with industry partners.

Singapore's FinTech Ecosystem and GIFTS' Role

Singapore's MAS has fostered a vibrant FinTech scene, with initiatives like the FinTech Regulatory Sandbox. NTU's NBS contributes through programs like NTU FinTech Industry Day and collaborations with UOB. GIFTS will amplify this by providing policy insights on AI ethics, DeFi (decentralized finance), and inclusive digital growth. As Asia leapfrogs with digital platforms—China's scale, Singapore's intelligent design—Prof Cong sees strategic opportunities for leadership.

Statistics highlight the stakes: Singapore fintech funding exceeds half of ASEAN's, with events like Singapore Fintech Festival drawing global innovators. Universities like NTU and NUS dominate QS FinTech-related rankings, but GIFTS differentiates with society-focused research.

Opportunities for Students and Researchers

GIFTS opens doors for NTU students via joint PhD programs, industry internships, and hackathons like Nanyang FinTech Catalyst. NBS's NBS Global Leaders programme, launched recently, complements this by nurturing AI-fluent leaders. Researchers benefit from collaborations with NBER, CEPR, and IC3, plus grants like Empire AI Compute.

Stakeholders praise the pragmatic, impact-focused culture at NBS, fostering equity and shared progress.

Challenges and Future Outlook

Challenges include regulatory hurdles in AI governance and talent competition. Yet, with Singapore's policy vision and NTU's infrastructure—like the UOB Innovation Hub planning 90+ startups—GIFTS is poised for breakthroughs. Prof Cong's emphasis on inclusive systems promises balanced growth, potentially influencing MAS CBDC pilots and global standards.

Looking ahead, GIFTS could propel NTU into top global FinTech research rankings by 2030, training the next generation for Singapore's digital economy.

Photo by Herlambang Tinasih Gusti on Unsplash

Implications for Singapore Higher Education

This leadership bolsters Singapore's universities amid AI transformations. While NUS leads in some QS subjects, NTU's engineering and business synergy positions NBS uniquely. GIFTS exemplifies how higher ed adapts: from degree retools to research hubs, ensuring graduates thrive in FinTech roles with median salaries exceeding SGD 5,500 monthly.