SHANGHAI, July 16. /TASS/. The headquarters of the World Artificial Intelligence Cooperation Organization will be located in Shanghai, the Xinhua news agency reported.

The new institution will be an independent intergovernmental international organization, adhering to the purposes of the UN Charter, upholding the principles of consultation, joint contribution, and shared benefit. The organization will prioritize human well-being, the agency reports.

On July 16, an agreement on the establishment of the World Artificial Intelligence Cooperation Organization was signed in Shanghai. It was signed by representatives of 29 countries, including Chinese Foreign Minister Wang Yi and Russian Minister of Digital Development Maksut Shadaev.

The initiative to establish the World Organization for Artificial Intelligence Cooperation was first proposed by Chinese Premier Li Qiang at last year’s World Artificial Intelligence Conference. At the time, he warned that artificial intelligence could become the exclusive preserve of a handful of countries and companies unless the international community strengthened cooperation in the field of advanced technologies.

The establishment of the organization was announced one day before the opening of this year’s World Artificial Intelligence Conference, which will take place in Shanghai from July 17 to July 20. On July 17, Chinese President Xi Jinping will deliver a keynote address at the conference’s opening ceremony. He is expected to outline China’s position and present conceptual proposals on the development of artificial intelligence and the governance of the sector.