Artificial Intelligence

Artificial Intelligence research fund worth $27 million set up

EPA / Franck Robichon

LinkedIn co-founder Reid Hoffman, the John S. and James L. Knight Foundation and Omidyar Network created a philanthropic investment fund for the purpose of promoting research into Artificial Intelligence for the public good. Together with other backers they raised $27 million for the Ethics and Governance of Artificial Intelligence Fund and intend to include a multidisciplinary approach to the development of AI. The president and CEO of the John S. and James L. Knight Foundation stated that “Artificial Intelligence agents will impact our lives in every society on Earth. Technology and commerce will see to that,” elaborating that the money raised will be used to support and ensure that AI benefits society as a whole.

“There’s an urgency to ensure that AI benefits society and minimizes harm,” Reid Hoffman, LinkedIn founder

The goals of the fund consist of tackling complex issues, such as designing technologies with ethical and moral frameworks as part of technological innovation, developing the field and including a multitude of perspectives on AI’s social impact, ensuring that the public interest is kept in mind and minimizing AI’s potential harm to society, as well as maximizing its benefits.

The fund is expected to grow as support for the initiative grows.

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