The News
The world needs a new financial architecture and governance framework to fully maximize the power of artificial intelligence, Microsoft President and Vice Chair Brad Smith told Semafor’s Gina Chon in an interview Tuesday.
“We will not bring AI to the world unless we harness the power of the private sector and capital markets,” as well as government funding, Smith said at Semafor’s “The Next 3 Billion” event in New York.
AI will serve “every part of the economy,” Smith predicted. Microsoft recently announced it would partner with BlackRock and Abu Dhabi’s MGX investment vehicle to back a $30 billion AI fund. Smith is also a member of the board at G42, a UAE-based AI company.
For AI to go global, it may ultimately require the US “to get comfortable with these chips being exported,” to countries like the UAE or Kenya, Smith said, referring to highly advanced AI-capable chips like those made by Nvidia, which are subject to export limits amid concern that China could use the chips to the detriment of the US.
“The other side of the equation will be that [the exported chips] will be deployed in data centers with the right kind of safety and security and privacy standards,” he said, citing an emerging consensus on the need for safe and secure AI.