Anthropic’s new fund could help address AI’s impact on jobs and workers

Artificial intelligence (AI) company Anthropic said on Sunday that it plans to set up the Anthropic Public Benefit Fund and donate 5% of its shares to it, for the “public good,” with a focus on addressing job instability caused by AI. In a blog post, Anthropic stated that subject to stockholder approval, the fund will initially get a 5% stake in the company, and it can earn another 2% for every 50% rise in the company’s value above a baseline that has not been disclosed. Companies worldwide, mainly technology firms, have cut thousands of jobs after investing in AI. A 2024 IMF study suggested almost 40% of jobs worldwide will be affected by AI, and as much as 60% in advanced economies.

First reported by The Economic Times. This page is a short excerpt; the full text is theirs.