CAF and Microsoft sign agreement for regional growth through innovation

CAF -the development bank of Latin America and the Caribbean- and Microsoft have signed a Memorandum of Understanding aimed at formalizing cooperation between the two parties in various joint work areas that benefit Latin America and the Caribbean and drive technological innovation in the region.

Sergio Díaz-Granados, Executive President of CAF, and Tito Arciniega, President of Microsoft Latin America, signed the agreement which aims to generate, disseminate, and exchange knowledge on key aspects for the development and growth of the region, such as artificial intelligence (AI), digital skills, sustainability, and connectivity.

“Decisively advancing in the digital transformation of our countries will require, among other elements, strengthening the region's digital innovation capabilities, increasing investment rates in digital infrastructure, and improving human capital skills to create a growth dynamic of the digital economy. This is why at CAF we celebrate this agreement to continue contributing with knowledge, technical assistance, and financing to digital inclusion, the transformation of societies through the responsible use of AI and other emerging technologies, and environmental sustainability supported by digital technologies,” stated Sergio Díaz-Granados.

Tito Arciniega, President of Microsoft Latin America, highlighted that, "This agreement represents a significant milestone in the consolidation of our relationship with CAF, with whom we share a vision focused on driving the development of the region through access to and utilization of technology, promoting connectivity, digital skills, employability, the responsible adoption of Artificial Intelligence, and the creation of a sustainable future."

Within the areas of work of this agreement, there is a focus on promoting the responsible use of AI, through initiatives that encourage the adoption and application of this technology to improve the quality of life of the population. In addition to boosting efficiencies in public entities and fostering their use as enablers of opportunities for the region, applying best practices to build safe, secure, and transparent AI systems that benefit society. In this regard, CAF and Microsoft have begun to develop a repository of AI applications in the region that serve to address the most pressing challenges of our countries.

In the field of digital skills and employability, the agreement is focused on providing training to all individuals, so they can acquire the digital skills necessary to face a changing economy. As part of the execution of this program, we will be announcing in the coming days a Cybersecurity course for women in the region. Similarly, on March 25, the Digital Marketing 360 course will be opened, reaching 6,000 women.

Regarding connectivity, the agreement will develop joint initiatives that enable the expansion of high-speed and low-cost internet connectivity, through devices that leverage the white spaces in the radio spectrum, with Microsoft's Airband program, to benefit communities without connection, with an emphasis on rural populations.

As for sustainability, the signing of this agreement will promote initiatives that can drive environmental sustainability in development activities, such as reducing the gap between rural and urban areas, creating conditions that increase agricultural productivity and allow for economic and social development, to foster a more sustainable future for the region.

Both parties agree on the importance of this agreement, which not only represents a significant milestone in the consolidation of the relationship between CAF and Microsoft but also strengthens their commitment to drive the growth of individuals and businesses throughout the region.