Microsoft Commits $70 Million for AI Advancement in South Africa
Microsoft South Africa (SA) has entered into a $70.5 million artificial intelligence (AI) investment agreement. With the Southern African nation’s Department of Trade, Industry, and Competition (DTIC).
The investment aims to support the development of black-owned small, micro, and medium enterprises (SMMEs) in both tech and non-tech sectors over the next 10 years. Approximately 200 SMMEs and over 2,000 individuals will receive advanced artificial intelligence (AI) knowledge and other capabilities to prepare them for future jobs.
This initiative is facilitated under the Equity Equivalent Investment Programme provisions of the B-BBEE Act. Allowing Microsoft to accrue BEE points. The investment commitment seeks to spur SMME development, create local opportunities, and prepare South Africa for AI transformation.
Clever Robot News Desk 28th May 2024
