This competition seeks to promote entrepreneurs who are generating an impact on society through artificial intelligence.

Artificial intelligence (AI) is increasingly present on the Internet. However, there is still a great unknown regarding the main benefits of this technology in society, something that worries some sectors due to the rapid development in recent years. Recently, a letter asking to pause the development of artificial intelligence for six months, signed even by Elon Musk, became known.

While it certainly doesn’t make much sense to call for pausing the development of this technology, some organizations are pushing for a healthy development of AI. Banco Santander and Microsoft have teamed up with Oxentia Foundation in a new global challenge for entrepreneurs in eleven countries, including Mexico, to drive innovative solutions in artificial intelligence that generate social impact.

The competition aims to discover and empower the future of AI through a global entrepreneurship competition called the Santander X Global Challenge | The AI Revolution scholarship, aimed at startups and scaleups from Argentina, Brazil, Chile, Germany, USA, Spain, Mexico, Portugal, Poland, UK and Uruguay.

“At Microsoft we have always understood technology as a catalyst for progress, and we believe that artificial intelligence will have a positive and transformational impact on our lives if used responsibly. We are committed to democratizing the use of AI, which is why we are delighted to join Banco Santander in the Santander X Global Challenge | The AI Revolution,” said Jens Hansen, General Manager Data & AI at Microsoft EMEA.

Entrepreneurs who register their projects will have the chance to participate for a series of financial incentives that will be distributed among the best six projects: €30,000 euros for the three winning startups (€10,000 euros each) and €90,000 euros for the three best scaleups (€30,000 euros each).

In addition, the winning teams will travel to Silicon Valley to attend the awards ceremony on June 29th and will have access to Santander X 100, a global entrepreneurship community that connects them with the resources they need to grow: advice and training, capital, customers, talent and networking.

They will also benefit from exclusive mentoring from artificial intelligence experts at Microsoft and the opportunity to present their projects to M12, the company’s Venture Capital.

Startups and scaleups from eligible countries can register until April 27, 2023 on the official competition website.

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