Health leaders are scrambling for billions in new philanthropic dollars expected from upcoming I. P. O.s of major artificial intelligence companies, starting as soon as next month.
At the United Nations in New York last month, veteran international health executives were grilled with unfamiliar questions: What would you do with another billion dollars? What about $5 billion? The anticipated windfall, dubbed a “third wave of philanthropy,” could rival or exceed donations from wealthy nations. Dr. Neil Buddy Shah, chief executive officer of the nonprofit Clinton Health Access Initiative, expressed optimism that the capital would chase impact and drive measurable improvements. For decades, global health has relied on wealthy governments, aid agencies, multilateral organizations, and Bill Gates. Now, the seven co-founders of Anthropic, valued near a trillion dollars, have pledged to give away 80 percent of their wealth.
The Open AI Foundation holds 26 percent of Open AI, valued at about $850 billion. However, pledged money is not the same as actual donations, and concerns about A. I. security could delay offerings or lower valuations.
Global health is one field among many, including A. I. security and animal welfare, competing for these funds.
Source: New York Times Top Stories · Summarized by HeadlinesBriefing