Banco Santander announced the establishment of partnerships with Microsoft and the Oxentia Foundation in order to solve the global problem of representatives of the business community who use artificial intelligence to launch processes of positive changes in society.
The parties to the partnership have announced a competition in which startups and scalable companies can participate. Firms from Argentina, Brazil, Uruguay, Chile, USA, Spain, Portugal, Mexico, Great Britain, and Poland are invited to participate. Applications for participation in the competition are accepted until April 27.
Three startups will receive 10 thousand euros each. The three participants who demonstrate the best result will be awarded 30 thousand euros each and a trip to Silicon Valley for the closing ceremony of the competition scheduled for June 29.
The winners will also receive membership in Santander X 100, a global entrepreneurial community that will provide training and networking opportunities, access to capital, and mentoring.
M12 projects, a venture initiative, will also be presented under the guidance of Microsoft experts.
Diego Calashibetta, Global Director of Entrepreneurship and Open Innovation at Santander Universities, says that by holding a competition and presenting a number of opportunities to the winners, the organization intends to support those companies that adhere to the same position as it does regarding the understanding and perception of artificial intelligence as a technology. He also noted that AI is gradually beginning to become an organic part of human life much earlier than expected.
Jens Hansen, general manager of Microsoft in the field of data and artificial intelligence in the EMEA region, says that the company has always followed the belief that technology is of primary importance in progress. He also stated that the responsible use of artificial intelligence can transform the usual format of human life in a positive sense.
Steve Cleverley, CEO of the Oxentia Foundation, says that the study of new technologies and assistance to entrepreneurs in implementing an innovative approach to solving global problems is at the heart of the work of this organization.
As we have reported earlier, Portrait Analytics Raises $3 Million for Generative AI Investment Research Platform.