Ex-Google Eric Schmidt Launches $125M Fund To Back AI Research

Ex-Google-Eric-Schmidt-launches-$125mln-fund-to-back-AI-research-in-hard-problems
Former CEO of Google Eric Schmidt

These include issues of bias, harm and misuse, geopolitical conflicts, and scientific limitations.

Former CEO of Google Eric Schmidt has launched a $125 million fund to back artificial intelligence research into “hard problems”. These include issues of bias, harm and misuse, geopolitical conflicts, and scientific limitations of the technology.

Also referred to as “AI2050”, the fund co-led by Eric Schmidt alongside Google’s head of technology, James Manyika, will be paid out over five years to individual academics, according to the Financial Times newspaper.

The project’s goal is to establish AI technology that is beneficial to society by 2050.

This comes as scepticism regarding AI, its consequences, and societal impacts have been raised recently by several corporations and governments.

“Many people have expressed concerns about AI, but very few people are working on solutions to them,” the FT reported, citing Schmidt.

That said, the fund will be directed into research tackling how AI can help measure and mitigate socio-economic inequality and develop new up to date algorithms, also known as liquid neutral networks.