With assistance from Google.org and the Asian Development Bank (ADB), social investor network AVPN has announced the opening of the US$15 million ($20.24 million) AI Opportunity Fund: Asia-Pacific.
According to the sources, the three-year program is to provide underprivileged communities in Asia with the fundamental information and resources on Artificial Intelligence (AI) needed for the changing nature of the workforce. Non-profit organizations, social entrepreneurs and workforce associations in the area can register their interest on the AVPN website. A wide range of support, including advice, funding and specialized AI training based on fundamental AI courses created by Google and its outside partners, will be provided to the chosen organizations.
In the first quarter of 2024, 93% of firms in the region anticipate using generative AI tools over the next five years. Some even plan to pay workers with AI abilities salary hikes of up to 44%. According to an AVPN representative, there is still a high rate of job informality and one-third of the people in the region do not utilize the internet, which makes matters more uncertain for those who are already disadvantaged.
Naina Subberwal Batra, CEO of AVPN, says building an AI-ready workforce is an essential social mandate for businesses and governments. “This region will have 165 million working-age people by 2030. There is urgency for such an enablement initiative as the new world work realities unfold and we start to see the socioeconomic impact of the AI work transition on workers who have limited support to adapt and catch up. AVPN is confident that it will be able to close the gaps and make sure that more of our people benefit from AI employment prospects by utilizing the experience and connections of impact organizations that are now operating locally.”
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