Philanthropists rush to fund AI projects despite uncertainty

In short: Wealthy donors are moving more money toward AI, even as many admit they do not yet know what will work.

What's going on

Philanthropists usually prefer clear problems and proven solutions. But artificial intelligence, or AI (computer systems that can produce text, images, or decisions), is full of unknowns. Leaders in the giving world say they still feel pressure to act quickly.

Some groups are forming specifically to guide AI-related giving. The Financial Times highlights Ergo Impact, launched in 2024 with funding from three international donors, which advises philanthropists and helps start new non-profits. It backs efforts like Fathom, a non-profit working on AI governance, meaning the rules and oversight around how AI is built and used.

Donors are taking different approaches. Some focus on near-term issues like jobs, and how AI could help workers or replace them. Wendy and Eric Schmidt are funding more than $3 million in grants to 19 labor economists through Schmidt Sciences to study where AI could be most helpful or harmful.

Others focus on worst-case risks, including threats to humanity. The article notes groups like Coefficient Giving, the Survival and Flourishing Fund, and the Future of Life Institute, which fund work aimed at making AI safer.

What to watch

Several big pledges could increase funding sharply, but details are still limited. The OpenAI Foundation has said it will commit $25 billion to philanthropy, with half aimed at “AI resilience” programs, and Anthropic CEO Dario Amodei has said he and co-founders plan to give away 80 percent of their wealth. A key question is whether this money will go toward practical public oversight, like funding policy advocacy and research, or mostly toward projects that use AI for social goals.

Source: Financial Times