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 announced Thursday that they 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 solutions that we’re investing in, the hundreds of entrepreneurs that are going to bring forward solutions that incorporate leading edge technologies, are going to do it by coming alongside people who are living through some of the struggles in the economy,” said Brian Hooks, CEO of Stand Together, a nonprofit started by Kansas-based billionaire Charles Koch.
The other funders include hedge fund founder John Overdeck and Valhalla Foundation, which was started by Inuit cofounder Steve