Central bank explores responsible AI practices through new tech firm collab

It partnered with Google Cloud to also cultivate technologists with AI skills.

The Monetary Authority of Singapore (MAS) inked a memorandum of understanding (MoU) with Google Cloud to deepen generative AI abilities and evaluate its ethical use.

The partnership will also deepen AI skillsets for technologists, read the joint statement.

Singapore's central bank’s MoU has a framework that includes “identifying potential use cases, conducting technical pilots, and co-creating solutions in responsible generative AI for MAS’ internal and industry-facing digital services.”

Under the framework, both parties will cooperate on responsible generative AI technology application development and test-bed of cutting-edge AI products for business functions and operations, in line with MAS’ technology plans and other areas of mutual interests.

The third part of the framework is supporting the technical competency development of responsible generative AI as well as deep AI skillsets for MAS technologists.