Funders commit $1 Billion toward developing AI tools for frontline workers

A coalition of funders, including the Gates Foundation and Ballmer Group, will spend $1 billion over 15 years to help develop artificial intelligence tools for public defenders, parole officers, social workers and others who help Americans in precarious situations. The funders will create a new entity, NextLadder Ventures, to offer grants and investments to nonprofits and for-profits to develop tools for those who often manage huge caseloads with few resources. The other funders include hedge fund founder John Overdeck and Valhalla Foundation, which was started by Inuit cofounder Steve Cook and his wife Signe Ostby. Ballmer Group is the philanthropy of former Microsoft CEO Steve Ballmer and his wife Connie. The funders declined to reveal the exact financial commitments made by each of the contributors. The point of investing in these AI tools is to spur economic mobility.