Eric Schmidt "Investing 150 Billion Won in AI Problem-Solving Research"
[Asia Economy Reporter Hyunjin Jung] Eric Schmidt, former chairman of Alphabet, Google's parent company, has decided to invest approximately 150 billion KRW in an initiative to address the challenges posed by artificial intelligence (AI).
According to CNBC on the 16th (local time), Schmidt announced in a statement that he plans to invest $125 million (about 150 billion KRW) in the Schmidt Futures Foundation, a nonprofit organization supporting ventures for the public good. This fund will be managed through an initiative called ‘AI2050’ and will be used to support academic research aimed at solving problems arising from AI, distributed to individual research teams over the next five years.
Schmidt said, "AI makes us reconsider what it means to be human," adding, "As we plan the path forward with AI and the future, we need to prepare for unexpected outcomes." Having previously warned about the risks of AI, Schmidt noted that no one anticipated social media platforms interfering with elections or influencing our lives, opinions, and behaviors. He continued, "These lessons compel us to prepare more quickly for the future," emphasizing, "While AI can be a tremendous force for good in our society, for now, we must focus on ensuring AI centers on human benefit."
The first recipients of support are Professor Stuart Russell and Professor Rediet Abebe at UC Berkeley. Professor Abebe is researching how AI can help alleviate socioeconomic inequalities, while Professor Russell is working on programming to improve AI safety and related issues.
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Previously, Schmidt served as chair of the U.S. Artificial Intelligence Commission from 2018 to 2021. In March last year, the commission released a 756-page report warning that the U.S. is not yet prepared for the AI era and that China could overtake the U.S. as an ‘AI superpower.’
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