Artificial Intelligence Fund Receives $20M from Top Tech Billionaires

Jan 13, 2017 06:30 AM EST | Hannah Jill Jose

LinkedIn and eBay are donating $10 million each to help fund the newly organized Ethics and Governance of Artificial Fund to avoid having ethical problems when it comes to Artificial Intelligence or AI. Its aim is to make sure that AI will be developed in an ethical, accountable way as well as benefit the public interest.

In this age of technology, the rise of having robots is inevitable as it clearly shows that Artificial Intelligence will soon be in every household and even in every workplace. AI can largely influence many aspects in the world like transportation, education, economy and even criminal justice.

Hence, according to Reid Hoffman, founder of LinkedIn, there is an urgency to make sure that AI technology minimizes harm and instead, benefit the society. The director of MIT Media Lab, Joi Ito, also said that a critical challenge that can be seen in the Artificial Intelligence technology is to make sure that the machines will not perpetuate and manifest the same biases as their creator. And because of this, it is important to determine and work out solutions on these issues.

Among the donors of the fund are The Knight Foundation, the Raptor Group and the William and Flora Hewlett Foundation which launched almost $27M in total. Last year in September, Facebook, IBM, Microsoft, Amazon and Google-owned company, DeepMind, made a partnership with AI which is designed to share resources and information. It is committed to make the research public and establish best practices in developing AI. However, the partnership has to do it publicly in order to make its presence recognized.

Ultimately, the fund is just one of the many other bodies which aims in shaping the future of Artificial Intelligence in a positive and unselfish direction. More companies are showing interest in supporting its progress and development. 

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