Singapore, May 31, 2023… The Monetary Authority of Singapore (MAS) and Google Cloud today signed a Memorandum of Understanding (MoU) to collaborate on generative artificial intelligence (AI) solutions based on responsible AI practices. The partnership will explore technology opportunities to facilitate the development and use of responsible generative AI applications within MAS, as well as develop technicians with deep AI skill sets.
2 This MoU provides a framework for cooperation on technology and industry best practices in three areas:
a. Identify potential use cases, conduct technology pilots, co-create solutions In MAS’s Responsible Generation AI for Internal and Industry Digital Services.
b. Collaborate on Responsible Generative AI Technology Application Development Provide a testbed of cutting-edge AI products for business functions and operations, in line with MAS’ technology plans and other areas of mutual interest.
c. Technical skill development support On Responsible Generative AI and Deep AI Skillsets for MAS Technicians.
3 Vincent Loy, Assistant Managing Director (Technology), MAS, said: “MAS has been committed to making the most of technology and innovation. We can explore use cases, through which we hope to accelerate the adoption of responsible generative AI in the financial sector.”
Four Google Cloud Singapore Country Director Shereen said: “Building on our extensive experience delivering enterprise-grade AI solutions already used by the financial industry to address everyday business problems, we are now offering a modern skills program. – Performance infrastructure, large-scale language models, and other tools that enable financial institutions to easily and quickly deploy generative AI while protecting data, applications, and users.We are working with MAS to bring We look forward to strengthening Singapore’s position as a global financial hub and customizing our foundation model for internal use.Our partnership will enable MAS and the broader financial sector to reach consumers and It unlocks new possibilities that can benefit companies.”
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Learn about Google Cloud’s generative AI technologies and capabilities
- Vertex AI Model Garden is a central register/repository of pre-trained generative AI models (first-party, third-party, open-source) that can be further customized to address various AI use cases.
- Generative AI Studio is a cloud-based developer platform that enables users to build, train, and deploy customized AI models.
- Generative AI App Builder is a cloud-based no-code development tool that enables users to build and deploy generative AI-powered chatbots and search applications using Google’s underlying models.
- Programmatic skills and certifications based on the core curriculum Google uses to train its own AI engineers.
