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Stephen Schwarzman Donates $188 Million to Develop Oxford’s Institute for Ethics in AI

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In what can be called the biggest non-military funding into AI and Research, Blackstone’s chief and co-founder, Stephen Schwarzman has made a mammoth donation to the University of Oxford. We can now call this the Renaissance of Ethics in AI with #OxfordAI. Stephen’s donation will boost Oxford University’s aspirations to build a center of Humanities that will constitute a program on Ethics in AI. This is second such donation to an educational institute in the past 12 months. In October 2018, Stephen made a donation of $350 million to MIT for a similar cause in AI and applications.

Currently, the Future of Humanity Institute at the University of Oxford houses The Center for the Governance of AI. The Center focuses on the development of AI by providing a research base to deal with the ‘neglected issues’ of AI governance and engagement. In addition to research, the Center for the Governance of AI is active in international policy circles, and actively advises governments and industry leaders on AI strategy. We are yet to confirm if the donation would be used in this Center for AI at Oxford.

Stephen Schwarzman’s Role in Taking AI to Academia and Public

Stephen Schwarzman is the Chairman, CEO, and Co-Founder of Blackstone. Blackstone is one of the world’s leading investment firms with $512 billion Assets Under Management (as of March 31, 2019). Stephen has been involved in all phases of Blackstone’s development since its founding in 1985. He is a well-known and active philanthropist with a history of supporting education, as well as culture and the arts, among other things. His mission is tackling big problems with transformative solutions.

Recently, in October 2018, MIT received $350 million in donation from Stephen. MIT will use this funding to establish the MIT Schwarzman College of Computing. MIT Schwarzman College of Computing is an interdisciplinary hub which will reorient MIT to address the opportunities and challenges presented by the rise of AI, including critical ethical and governance to ensure progressive application of AI to benefit the human race and other life forms on the planet.

Progressive Efforts to Build an AI-Friendly Society

With the advent of AI and Machine Learning technologies, we are witnessing a rise in AI-focused learning and development institutes around the world. Some NGOs are making a constant and defiant blueprint to bring AI to the heart of all socio-economic actions. Here are some progressive AI-friendly communities that are coordinating the growth of these technologies by creating awareness in the general public.

The Future Ahead

With Stephen’s donation to Oxford, we expect a heightened awareness in the public domain about the current trends, causes, and forecasts of AI progress globally. We will also see generic transformations in the way wealth and resources are used to drive AI Ethics and Governance, with combined participation of entrepreneurs, academia, NGOs and governments. At AiThority, we are optimistic about various international AI races to come together for cooperation in generating greater interest and opinion on AI and other technologies such as Crypto-economic systems, Weapons systems, Nanotechnology, Biotechnology, and Surveillance and Advanced Space Research.

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