AVPN offers $15-M AI fund for Asian organizations

AVPN offers $15-M AI fund for Asian organizations | Daily Tribune

Social investor network AVPN is offering a total of $15 million to civic groups, labor unions, professional groups and non-profit groups for the upskilling of Asian workers toward high competency in artificial intelligence (AI).

The fund, called AI Opportunity Fund: Asia-Pacific, is supported by the Asian Development Bank (ADB) and Google.

The ADB said the application period for the fund is now open and will run until 30 October.

“Successful applicants will receive funding, comprehensive training based on Google and external AI courses, and the option for additional tailored training aimed at supporting vulnerable workers,” ADB said in a statement.

Asia’s largest social investors network

AVPN is Asia’s largest network of social investors, with over 600 members and other partners including Moody’s, Rockefeller Foundation, Nippon Foundation, Chevron, United Nations Development Program, and Hong Kong Jockey Club Charities Trust.

AVPN is registered in Singapore as a charity.

PwC, a global auditing firm and business consultancy, reported 34 percent of employees deem AI as an opportunity to learn new skills.

Meanwhile, PwC Global CEO Survey for this year shows that 70 percent of company leaders believe Generative AI (GenAI) like ChatGPT can improve their operations and customer service.

Its AI report also reveals the technology has increased companies’ profit margins by 20 percentage points.

GenAI embedded into everything

“Over the next couple of years, we’re going to see GenAI embedded into everything that we do. Whether those are creative tasks like creating videos or logos or diagrams, or analytical, like programming or report writing, we’ve now got a digital brain basically that we can use to help us accomplish our goals,” PwC head for GenAI in Asia-Pacific Scott McLiver said.

Global research firm Statista projects the AI market to grow by 24 percent until 2030.

Details for the application for the AI Opportunity Fund: Asia-Pacific are available on the websites of AVPN and ADB Southeast Asia Development Solutions.