MAS Partners Google Cloud to Advance Capabilities in Generative AI Technology

The Monetary Authority of Singapore (MAS) and Google Cloud have joined forces, marking a significant milestone as they signed a Memorandum of Understanding (MoU). This collaboration aims to drive the development and adoption of generative artificial intelligence (AI) solutions based on responsible AI practices. The partnership will delve into technological possibilities to propel the advancement of responsible generative AI applications within MAS, while also fostering the growth of highly skilled AI professionals.

Under the MoU, the two entities will collaborate on various fronts, guided by technology and industry best practices. The key areas of cooperation include:

a. Exploring potential use cases, conducting technical pilots, and collaboratively creating solutions in the realm of responsible generative AI for both MAS’ internal operations and industry-facing digital services.

b. Working together on the development and test-bedding of cutting-edge AI products for business functions and operations, specifically focused on responsible generative AI technology. This collaboration will align with MAS’ technology plans and other mutually beneficial areas of interest.

c. Supporting the technical competency development of MAS technologists in responsible generative AI, as well as fostering deep AI skillsets among them.

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