The Inaugural Asia FII PRIORITY Summit, Powered by FII Institute and held Dec 7-8 in Hong Kong, convened nearly 1000 business and finance leaders from around the world together to discuss some of the most pressing issues facing humanity.

Front and center were the considerations around technology, with the FII PRIORITY Compass showing we are at a tipping point when it comes to AI: while 46% of the people believe that generative AI tools can add value in their everyday lives, 41% see it as a threat to society. What is more, nearly two thirds of citizens (62%) believe governments need to do more to regulate the impact of AI, a concern that is most strongly expressed in emerging markets (66% vs. 58% in developed markets).

With global concerns running ahead of government action, and with notable industry leaders themselves expressing disquiet, an urgent need for immediate and robust global action has been identified at FII.

The Asia FII PRIORITY Summit assembled global leaders to review the work program of the FII AI Coalition, an international, private-sector led effort to advance the AI alignment agenda globally and bringing together investors, corporations, government leaders and academics from developed and emerging markets to engage in a frank and candid dialogue on the critical issue of AI alignment.

Over the coming year, the AI Coalition will focus its efforts on three important strategic areas:

• Improving response preparedness by mapping out viable solutions to global AI risks and helping to mobilize resources towards them.
• Bridging the gaps between developed and emerging markets by proposing solutions that can help ensure AI alignment at the local level. A central element of that effort will be the creation of a blueprint on how to build locally-aligned models reflective of local culture and values.
• Growing the momentum for global action by providing a platform where global AI initiatives can meet to cooperate and by bringing the voice and the work of the FII AI Coalition to all international efforts focused on concrete responses.

The coalition will convene at each FII PRIORITY to meet with members, report on progress and accelerate action.

Richard Attias, CEO of FII Institute: “The next 12 months will determine the way the world chooses to respond to AI risks and harness AI’s full potential. Citizens demand action, and we stand ready to play our part. The FII AI coalition is a key element of that effort and we look forward to working with all interested parties – because this concerns us all and only by working together can we ensure AI positively impacts humanity.”

Eric Pulier, CEO, Vatom Corporation and co-chair of the FII AI coalition “To ensure AI benefits everybody, we need to develop locally-trained models that reflect all customs and traditions, not just one. Demand for such ‘localization’ is rising across the globe. The blueprint we are working on will provide guidance for how public and private actors can work together to realize the full promise of AI while preserving their most important resource– the history and culture of their people.”

Caroline Yap, Managing Director, Global AI Business, Google and co-chair of the FII AI conclave in Hong Kong: “The world’s leading tech companies and technologist are rapidly coming to a consensus that immediate action is necessary. Three things are needed for a coalition to succeed at scale: timing, relevance and momentum. The FII AI Coalition Shas all three. It is a wonderful opportunity for the private sector to lead on the issue of AI Alignment and to help advance global action on this critical topic.”