Microsoft is enhancing its artificial intelligence efforts by establishing two centers in Abu Dhabi. This move is part of its ongoing global expansion to boost AI technology.
The tech giant has partnered with G42, an artificial intelligence holding company based in the UAE, to co-found and co-fund one of these centers. This partnership aims to advance industry standards and practices for responsible artificial intelligence use in the Middle East and the Global South.
The Abu Dhabi Artificial Intelligence and Advanced Technology Council (AIATC) backs this initiative. Established on January 23 by the UAE president, AIATC’s role is to craft policies for investments, research, and infrastructure in artificial intelligence.
Its collaboration with Microsoft signifies the UAE’s commitment to establishing a leadership role in artificial intelligence technology.
Microsoft and G42’s Partnership
Together, Microsoft and G42 plan to establish guidelines and best practices for responsible artificial intelligence use. It will also create rules that govern the use of this technology, including the incorporation of digital safety and cybersecurity measures.
The center aims to protect artificial intelligence systems against potential risks like probing, testing, and cyberattacks. This move comes as this technology becomes increasingly embedded in various sectors.
Microsoft’s Artificial Intelligence Research Lab
The second AI center aims to support projects with a societal impact. It will extend Microsoft’s AI for Good Research Lab into the UAE, focusing on initiatives that address significant challenges.
By doing so, Microsoft leverages artificial intelligence in solving critical issues, aligning its technology with broader societal goals. Microsoft’s move to Abu Dhabi is not isolated. Earlier this year, the company made substantial investments in artificial intelligence infrastructure across Europe.
In February this year, it announced a €3.2B investment in Germany to bolster artificial intelligence infrastructure. Shortly after, Microsoft committed $2 billion to Spain to develop data centers and AI infrastructure.
Two months later, Microsoft executive Mustafa Suleyman revealed plans for long-term investments in the United Kingdom, signaling a robust global push for artificial intelligence development in the country.
Hong Kong Sets Its AI Guidelines
Meanwhile, the Hong Kong government is preparing to launch new regulations for artificial intelligence in its financial sector by the end of October. The Financial Services and the Treasury Bureau (FSTB) is leading the effort to create policies that will encourage the responsible use of this technology in markets such as traditional trading, investment banking, and cryptocurrencies.
These policies are being developed with input from industry stakeholders and aim to provide a clear framework for the ethical use of this innovative technology. The upcoming policies are part of Hong Kong’s strategy to boost this technology’s adoption while ensuring consumer protection and market integrity.
Even though artificial intelligence can transform the finance industry, it also brings risks that need careful management. The new guidelines are expected to be revealed during Hong Kong’s FinTech Week, which is scheduled from October 28 to November 1.
Responsible Integration
FinTech Week is a key event for the region, where policymakers, financial institutions, and tech companies discuss trends and future developments in the industry. By choosing this event to announce its guidelines for artificial intelligence use, the FSTB is signaling the importance it places on this tech’s role across industries.
Hong Kong’s move comes amid a global push to regulate this new fintech. Financial authorities worldwide are exploring ways to integrate this innovative technology into the finance sector responsibly.
Hong Kong aims to learn from international experiences and apply best practices to its policies to strike a balance between innovation and security.
Hong Kong Reviews Global AI Regulations
Hong Kong has been keeping a close eye on global artificial intelligence trends, especially in light of the ongoing US-China tech conflict. Popular artificial intelligence tools like OpenAI’s ChatGPT and Google’s Gemini have limited use in the region.
As a result, Hong Kong is focusing on developing its own artificial intelligence ecosystem. In August, Hong Kong’s financial regulator issued principles governing the use of this technology.
These principles emphasized governance, transparency, and data protection to safeguard consumers. The FSTB’s upcoming framework aims to provide clear guidance on how artificial intelligence should be used in different finance-related services.
These services include customer chatbots, customized product offerings, and robo-advisors.
