$1 Billion Initiative Launched to Develop AI Tools for Frontline Workers

Funders commit $1B toward developing AI tools for frontline workers

A coalition of funders, including the Gates Foundation and Ballmer Group, will spend $1 billion over 15 years to help develop artificial intelligence tools for public defenders, parole officers, social workers and others who help Americans in precarious situations. The funders announced Thursday that they will create a new entity, NextLadder Ventures, to offer grants and investments to nonprofits and for-profits to develop tools for those who often manage huge caseloads with few resources. "The solutions that we're investing in, the hundreds of entrepreneurs that are going to bring forward solutions that incorporate leading edge technologies, are going to do it by coming alongside people who are living through some of the struggles in the economy," said Brian Hooks, CEO of Stand Together, a nonprofit started by Kansas-based billionaire Charles Koch. The other funders include hedge fund founder John Overdeck and Valhalla Foundation, which was started by Inuit cofounder Steve Cook and his wife Signe Ostby. Ballmer Group is the philanthropy of former Microsoft CEO Steve Ballmer and his wife Connie. The funders declined to reveal the exact financial commitments made by each of the contributors. The point of investing in these AI tools is to spur economic mobility, a focus all the funders share, they said. The funders believe there are many ideas for how AI technologies could help match people with resources after a disaster or an eviction, for example, or help a parole officer close out more cases for people who have met all of the criteria but are waiting for the paperwork to be processed. "As we traded notes on where we were making investments and where we saw broader gaps in the sector, it was readily apparent that there was a real opportunity to come together as a group of cofunders and cofounders to establish a new kind of investment organization," said Kevin Bromer, who leads the technology and data strategy at Ballmer Group. He will also serve as a member on NextLadder's board, which will include three independent board members and representatives from the other funders. NextLadder will be led by Ryan Rippel, who previously directed the Gates Foundation's economic mobility portfolio. The funder group has not yet determined if NextLadder will incorporate as a nonprofit or a for profit organization but said any returns they make from investments will go back into funding new initiatives. NextLadder will partner with AI company Anthropic, which will offer technical expertise and access to its technologies to the nonprofits and companies it invests in. Anthropic has committed around $1.5 million annually to the partnership, said Elizabeth Kelly, its head of beneficial deployments, which is a team that focuses on giving back to society. "We want to hand-hold grantees through their use of Claude with the same care and commitment we provide to our largest enterprise customers," Kelly said, referencing Anthropic's large language model. Hooks, of Stand Together, said philanthropy can reduce the riskiness of these types of investments and offer organizations more time to prove out their ideas. "If we're successful, this will be the first capital to demonstrate what's possible," Hooks said. Researchers like those at the Active Learning Network for Accountability and Performance in humanitarian action have studied some of the risks associated with using AI tools when interacting with sensitive populations or handling high-stakes interactions, for example, in humanitarian contexts. They recommend assessing whether AI is the best tool to solve the problem and, crucially, if it works reliably and accurately enough in high-risk settings. They also recommend assessing tools for bias, considering privacy protections and weighing the cost of potential dependence on a specific provider. The National Institute of Standards and Technology also emphasizes that trustworthy AI systems should be accountable to users and that it should be possible to explain or trace how a tool arrived at a certain conclusion or decision. Hooks emphasized that any AI tools NextLadder invests in will be shaped by the needs and feedback of these frontline workers. Tools that don't work for them, won't succeed, he said. Even with the potential risks of AI tools, he said it's imperative that groups that are struggling to move up the economic ladder have access to new technologies. "The idea that we would deprive those who are struggling in our country from the benefits of the leading edge solutions is unacceptable," Hooks said. ___ Associated Press coverage of philanthropy and nonprofits receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP's philanthropy coverage, visit https://apnews.com/hub/philanthropy.

A new Bill Gates charity foundation is spending $1bn to boost AI tools for at-risk Americans

Anthropic will offer Claude credits and support worth $1.5 million annually NextLadder Ventures has launched a $1 billion initiative to help support low-income Americans, arming them with AI skills for future employment opportunities. The initiative was founded by a coalition of major philanthropies, including Ballmer Group, Gates Foundation, Stand Together, Valhalla Foundation and John Overdeck. It's set to run for 15 years, providing grants, equity and revenue-based financing to nonprofits and for-profits to help support at-risk Americans, with Anthropic joining as its inaugural AI partner offering Claude credits and expert support. The Gates Foundation described NextLadder Ventures as an "initiative grounded in the belief that every American has the potential to achieve economic prosperity." "While innovative ideas exist to help low-income Americans overcome obstacles and pursue prosperity, there is insufficient capital available to those serving these populations," its press release says. The initiative aims to expand economic opportunities for over 90 million low-income Americans, supporting entrepreneurs who want to address job loss, housing instability and health crises. As part of the deal, Anthropic will contribute about $1.5 million annually. "The Gates Foundation is focused on lifting millions of people out of poverty and onto a path to prosperity," Gates Foundation CEO Mark Suzman commented. The coalition announced Ryan Rippel as the CEO of NextLadder Ventures. Rippel, who already has a history working with the Gates Foundation, challenged the notion of a one-size-fits-all approach, pledging new and practical pathways. His "design with, not for" stance comes from growing up in a single-parent household in Missouri, where he was able to experience some of the struggles NextLadder Ventures aims to solve. In a LinkedIn post, Rippel wrote: "Closing this divide means helping the helpers and the people they serve access new, practical pathways to opportunity." Further details on NextLadder Ventures are limited, but we expect to hear more in the coming weeks.

Funders commit $1B toward developing AI tools for frontline workers

A coalition of funders, including the Gates Foundation and Ballmer Group, will spend $1 billion over 15 years to help develop artificial intelligence tools for public defenders, parole officers, social workers and others who help Americans in precarious situations. The funders announced Thursday that they will create a new entity, NextLadder Ventures, to offer grants and investments to nonprofits and for-profits to develop tools for those who often manage huge caseloads with few resources. "The solutions that we're investing in, the hundreds of entrepreneurs that are going to bring forward solutions that incorporate leading edge technologies, are going to do it by coming alongside people who are living through some of the struggles in the economy," said Brian Hooks, CEO of Stand Together, a nonprofit started by Kansas-based billionaire Charles Koch. The other funders include hedge fund founder John Overdeck and Valhalla Foundation, which was started by Inuit cofounder Steve Cook and his wife Signe Ostby. Ballmer Group is the philanthropy of former Microsoft CEO Steve Ballmer and his wife Connie. The funders declined to reveal the exact financial commitments made by each of the contributors. The point of investing in these AI tools is to spur economic mobility, a focus all the funders share, they said. The funders believe there are many ideas for how AI technologies could help match people with resources after a disaster or an eviction, for example, or help a parole officer close out more cases for people who have met all of the criteria but are waiting for the paperwork to be processed. "As we traded notes on where we were making investments and where we saw broader gaps in the sector, it was readily apparent that there was a real opportunity to come together as a group of cofunders and cofounders to establish a new kind of investment organization," said Kevin Bromer, who leads the technology and data strategy at Ballmer Group. He will also serve as a member on NextLadder's board, which will include three independent board members and representatives from the other funders. NextLadder will be led by Ryan Rippel, who previously directed the Gates Foundation's economic mobility portfolio. The funder group has not yet determined if NextLadder will incorporate as a nonprofit or a for profit organization but said any returns they make from investments will go back into funding new initiatives. Jim Fruchterman, founder of Tech Matters and author of the recent book "Technology for Good," said he expects NextLadder to mostly fund nonprofits if they want to accomplish their mission of reaching the poorest people and places. He said he was optimistic about their focus on serving frontline workers rather than trying to replace them. "The nonprofit sector is about humans helping humans," Fruchterman said. "And if instead of inflicting the AI on poor people, or people in need, we're saying, 'Hey, you're a frontline worker. What's the crappiest part of your job that is the least productive?' And they'll tell you and if you work on that, you are likely to be more successful." NextLadder will partner with AI company Anthropic, which will offer technical expertise and access to its technologies to the nonprofits and companies it invests in. Anthropic has committed around $1.5 million annually to the partnership, said Elizabeth Kelly, its head of beneficial deployments, which is a team that focuses on giving back to society. "We want to hand-hold grantees through their use of Claude with the same care and commitment we provide to our largest enterprise customers," Kelly said, referencing Anthropic's large language model. Hooks, of Stand Together, said philanthropy can reduce the riskiness of these types of investments and offer organizations more time to prove out their ideas. "If we're successful, this will be the first capital to demonstrate what's possible," Hooks said. Suzy Madigan, who is the Responsible AI Lead at Care International UK, has researched the risks and benefits of using AI tools in humanitarian contexts. She said she's seen a rush to explore how AI technologies might fill in gaps as funding has been cut. "The rise of artificial intelligence being deployed in more sensitive contexts brings some really important new ethical and governance questions because it can actually exacerbate increasing inequalities, even when there were good intentions behind it," said Madigan. The key to not harming vulnerable communities is to involve them in every step of developing, deploying and assessing AI tools and to ensure that those tools do not replace frontline workers, she said. Researchers like those at the Active Learning Network for Accountability and Performance in humanitarian action have studied some of the risks associated with using AI tools when interacting with sensitive populations or handling high-stakes interactions, for example, in humanitarian contexts. They recommend assessing whether AI is the best tool to solve the problem and, crucially, if it works reliably and accurately enough in high-risk settings. They also recommend assessing tools for bias, considering privacy protections and weighing the cost of potential dependence on a specific provider. The National Institute of Standards and Technology also emphasizes that trustworthy AI systems should be accountable to users and that it should be possible to explain or trace how a tool arrived at a certain conclusion or decision. Hooks emphasized that any AI tools NextLadder invests in will be shaped by the needs and feedback of these frontline workers. Tools that don't work for them, won't succeed, he said. Even with the potential risks of AI tools, he said it's imperative that groups that are struggling to move up the economic ladder have access to new technologies. "The idea that we would deprive those who are struggling in our country from the benefits of the leading edge solutions is unacceptable," Hooks said.

Funders commit $1B toward developing AI tools for frontline workers

A coalition of philanthropic funders will spend $1 billion over 15 years to help develop artificial intelligence tools to help spur economic mobility A coalition of funders, including the Gates Foundation and Ballmer Group, will spend $1 billion over 15 years to help develop artificial intelligence tools for public defenders, parole officers, social workers and others who help Americans in precarious situations. The funders announced Thursday that they will create a new entity, NextLadder Ventures, to offer grants and investments to nonprofits and for-profits to develop tools for those who often manage huge caseloads with few resources. "The solutions that we're investing in, the hundreds of entrepreneurs that are going to bring forward solutions that incorporate leading edge technologies, are going to do it by coming alongside people who are living through some of the struggles in the economy," said Brian Hooks, CEO of Stand Together, a nonprofit started by Kansas-based billionaire Charles Koch. The other funders include hedge fund founder John Overdeck and Valhalla Foundation, which was started by Inuit cofounder Steve Cook and his wife Signe Ostby. Ballmer Group is the philanthropy of former Microsoft CEO Steve Ballmer and his wife Connie. The funders declined to reveal the exact financial commitments made by each of the contributors. The point of investing in these AI tools is to spur economic mobility, a focus all the funders share, they said. The funders believe there are many ideas for how AI technologies could help match people with resources after a disaster or an eviction, for example, or help a parole officer close out more cases for people who have met all of the criteria but are waiting for the paperwork to be processed. "As we traded notes on where we were making investments and where we saw broader gaps in the sector, it was readily apparent that there was a real opportunity to come together as a group of cofunders and cofounders to establish a new kind of investment organization," said Kevin Bromer, who leads the technology and data strategy at Ballmer Group. He will also serve as a member on NextLadder's board, which will include three independent board members and representatives from the other funders. NextLadder will be led by Ryan Rippel, who previously directed the Gates Foundation's economic mobility portfolio. The funder group has not yet determined if NextLadder will incorporate as a nonprofit or a for profit organization but said any returns they make from investments will go back into funding new initiatives. NextLadder will partner with AI company Anthropic, which will offer technical expertise and access to its technologies to the nonprofits and companies it invests in. Anthropic has committed around $1.5 million annually to the partnership, said Elizabeth Kelly, its head of beneficial deployments, which is a team that focuses on giving back to society. "We want to hand-hold grantees through their use of Claude with the same care and commitment we provide to our largest enterprise customers," Kelly said, referencing Anthropic's large language model. Hooks, of Stand Together, said philanthropy can reduce the riskiness of these types of investments and offer organizations more time to prove out their ideas. "If we're successful, this will be the first capital to demonstrate what's possible," Hooks said. Researchers like those at the Active Learning Network for Accountability and Performance in humanitarian action have studied some of the risks associated with using AI tools when interacting with sensitive populations or handling high-stakes interactions, for example, in humanitarian contexts. They recommend assessing whether AI is the best tool to solve the problem and, crucially, if it works reliably and accurately enough in high-risk settings. They also recommend assessing tools for bias, considering privacy protections and weighing the cost of potential dependence on a specific provider. The National Institute of Standards and Technology also emphasizes that trustworthy AI systems should be accountable to users and that it should be possible to explain or trace how a tool arrived at a certain conclusion or decision. Hooks emphasized that any AI tools NextLadder invests in will be shaped by the needs and feedback of these frontline workers. Tools that don't work for them, won't succeed, he said. Even with the potential risks of AI tools, he said it's imperative that groups that are struggling to move up the economic ladder have access to new technologies. "The idea that we would deprive those who are struggling in our country from the benefits of the leading edge solutions is unacceptable," Hooks said. ___ Associated Press coverage of philanthropy and nonprofits receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP's philanthropy coverage, visit https://apnews.com/hub/philanthropy.

Why the Gates Foundation and Other Funders Are Spending $1 Billionon AI for Frontline Workers

A coalition of funders, including the Gates Foundation and Ballmer Group, will spend $1 billion over 15 years to help develop artificial intelligence tools for public defenders, parole officers, social workers and others who help Americans in precarious situations. The funders announced Thursday that they will create a new entity, NextLadder Ventures, to offer grants and investments to nonprofits and for-profits to develop tools for those who often manage huge caseloads with few resources. "The solutions that we're investing in, the hundreds of entrepreneurs that are going to bring forward solutions that incorporate leading edge technologies, are going to do it by coming alongside people who are living through some of the struggles in the economy," said Brian Hooks, CEO of Stand Together, a nonprofit started by Kansas-based billionaire Charles Koch. The other funders include hedge fund founder John Overdeck and Valhalla Foundation, which was started by Inuit cofounder Steve Cook and his wife Signe Ostby. Ballmer Group is the philanthropy of former Microsoft CEO Steve Ballmer and his wife Connie. The funders declined to reveal the exact financial commitments made by each of the contributors. The point of investing in these AI tools is to spur economic mobility, a focus all the funders share, they said. The funders believe there are many ideas for how AI technologies could help match people with resources after a disaster or an eviction, for example, or help a parole officer close out more cases for people who have met all of the criteria but are waiting for the paperwork to be processed. "As we traded notes on where we were making investments and where we saw broader gaps in the sector, it was readily apparent that there was a real opportunity to come together as a group of cofunders and cofounders to establish a new kind of investment organization," said Kevin Bromer, who leads the technology and data strategy at Ballmer Group. He will also serve as a member on NextLadder's board, which will include three independent board members and representatives from the other funders. NextLadder will be led by Ryan Rippel, who previously directed the Gates Foundation's economic mobility portfolio. The funder group has not yet determined if NextLadder will incorporate as a nonprofit or a for profit organization but said any returns they make from investments will go back into funding new initiatives. NextLadder will partner with AI company Anthropic, which will offer technical expertise and access to its technologies to the nonprofits and companies it invests in. Anthropic has committed around $1.5 million annually to the partnership, said Elizabeth Kelly, its head of beneficial deployments, which is a team that focuses on giving back to society. "We want to hand-hold grantees through their use of Claude with the same care and commitment we provide to our largest enterprise customers," Kelly said, referencing Anthropic's large language model. Hooks, of Stand Together, said philanthropy can reduce the riskiness of these types of investments and offer organizations more time to prove out their ideas. "If we're successful, this will be the first capital to demonstrate what's possible," Hooks said. Researchers like those at the Active Learning Network for Accountability and Performance in humanitarian action have studied some of the risks associated with using AI tools when interacting with sensitive populations or handling high-stakes interactions, for example, in humanitarian contexts. They recommend assessing whether AI is the best tool to solve the problem and, crucially, if it works reliably and accurately enough in high-risk settings. They also recommend assessing tools for bias, considering privacy protections and weighing the cost of potential dependence on a specific provider. The National Institute of Standards and Technology also emphasizes that trustworthy AI systems should be accountable to users and that it should be possible to explain or trace how a tool arrived at a certain conclusion or decision. Hooks emphasized that any AI tools NextLadder invests in will be shaped by the needs and feedback of these frontline workers. Tools that don't work for them, won't succeed, he said. Even with the potential risks of AI tools, he said it's imperative that groups that are struggling to move up the economic ladder have access to new technologies. "The idea that we would deprive those who are struggling in our country from the benefits of the leading edge solutions is unacceptable," Hooks said. The final deadline for the 2025 Inc. Power Partner Awards is Friday, July 25, at 11:59 p.m. PT. Apply now.

Funders Commit $1B Toward Developing AI Tools for Frontline Workers

FILE - Former Microsoft CEO Steve Ballmer and his wife Connie speak at the Mack Avenue Community Church Development in Detroit on Friday, Nov. 2, 2018. Ballmer and his wife, have announced they are giving $16 million to be shared among 18 nonprofits in the Detroit area. (Max Ortiz/Detroit News via AP, file) A coalition of funders, including the Gates Foundation and Ballmer Group, will spend $1 billion over 15 years to help develop artificial intelligence tools for public defenders, parole officers, social workers and others who help Americans in precarious situations. The funders announced Thursday that they will create a new entity, NextLadder Ventures, to offer grants and investments to nonprofits and for-profits to develop tools for those who often manage huge caseloads with few resources. "The solutions that we're investing in, the hundreds of entrepreneurs that are going to bring forward solutions that incorporate leading edge technologies, are going to do it by coming alongside people who are living through some of the struggles in the economy," said Brian Hooks, CEO of Stand Together, a nonprofit started by Kansas-based billionaire Charles Koch. The other funders include hedge fund founder John Overdeck and Valhalla Foundation, which was started by Inuit cofounder Steve Cook and his wife Signe Ostby. Ballmer Group is the philanthropy of former Microsoft CEO Steve Ballmer and his wife Connie. The funders declined to reveal the exact financial commitments made by each of the contributors. The point of investing in these AI tools is to spur economic mobility, a focus all the funders share, they said. The funders believe there are many ideas for how AI technologies could help match people with resources after a disaster or an eviction, for example, or help a parole officer close out more cases for people who have met all of the criteria but are waiting for the paperwork to be processed. "As we traded notes on where we were making investments and where we saw broader gaps in the sector, it was readily apparent that there was a real opportunity to come together as a group of cofunders and cofounders to establish a new kind of investment organization," said Kevin Bromer, who leads the technology and data strategy at Ballmer Group. He will also serve as a member on NextLadder's board, which will include three independent board members and representatives from the other funders. NextLadder will be led by Ryan Rippel, who previously directed the Gates Foundation's economic mobility portfolio. The funder group has not yet determined if NextLadder will incorporate as a nonprofit or a for profit organization but said any returns they make from investments will go back into funding new initiatives. NextLadder will partner with AI company Anthropic, which will offer technical expertise and access to its technologies to the nonprofits and companies it invests in. Anthropic has committed around $1.5 million annually to the partnership, said Elizabeth Kelly, its head of beneficial deployments, which is a team that focuses on giving back to society. "We want to hand-hold grantees through their use of Claude with the same care and commitment we provide to our largest enterprise customers," Kelly said, referencing Anthropic's large language model. Hooks, of Stand Together, said philanthropy can reduce the riskiness of these types of investments and offer organizations more time to prove out their ideas. "If we're successful, this will be the first capital to demonstrate what's possible," Hooks said. Researchers like those at the Active Learning Network for Accountability and Performance in humanitarian action have studied some of the risks associated with using AI tools when interacting with sensitive populations or handling high-stakes interactions, for example, in humanitarian contexts. They recommend assessing whether AI is the best tool to solve the problem and, crucially, if it works reliably and accurately enough in high-risk settings. They also recommend assessing tools for bias, considering privacy protections and weighing the cost of potential dependence on a specific provider. The National Institute of Standards and Technology also emphasizes that trustworthy AI systems should be accountable to users and that it should be possible to explain or trace how a tool arrived at a certain conclusion or decision. Hooks emphasized that any AI tools NextLadder invests in will be shaped by the needs and feedback of these frontline workers. Tools that don't work for them, won't succeed, he said. Even with the potential risks of AI tools, he said it's imperative that groups that are struggling to move up the economic ladder have access to new technologies. "The idea that we would deprive those who are struggling in our country from the benefits of the leading edge solutions is unacceptable," Hooks said. ___ Associated Press coverage of philanthropy and nonprofits receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP's philanthropy coverage, visit https://apnews.com/hub/philanthropy.

5 Billionaire Philanthropists Pool $1B to Help Low-Income Americans with A.I.

The fund will help social workers, legal advisors and families access powerful new tech. Five of the world's wealthiest individuals are backing a new philanthropic coalition aimed at improving the lives of low-income Americans and frontline workers. Over the next 15 years, foundations headed by Bill Gates, Steve Ballmer, Charles Koch and others will invest $1 billion in expanding economic opportunity through cutting-edge technology, including A.I. Sign Up For Our Daily Newsletter Sign Up Thank you for signing up! By clicking submit, you agree to our <a href="http://observermedia.com/terms">terms of service</a> and acknowledge we may use your information to send you emails, product samples, and promotions on this website and other properties. You can opt out anytime. See all of our newsletters The initiative, known as NextLadder Ventures, will support both nonprofits and for-profit organizations through a mix of grants, equity investments and revenue-based financing, the group of foundations announced yesterday (July 17). Besides the Gates Foundation, Ballmer Group and Koch's Stand Together, NextLadder includes the Valhalla Foundation, established by Inuit co-founder Scott Cook, and receives funding support from John Overdeck, the co-chair of hedge fund Two Sigma Investments. NextLadder Ventures will be led by Ryan Rippel, former head of the Gates Foundation's economic mobility strategy. Its board will feature three independent members, along with one representative from each of the funders. The coalition will prioritize access to emerging technologies, particularly A.I., to help people facing challenges such as job loss or housing instability. For frontline workers like social workers and legal advisors, the organization aims to provide digital tools that reduce administrative burdens and increase reach. A portion of the funds will also go toward research focused on ensuring A.I.'s benefits are equally shared. Anthropic, the A.I. startup known for its Claude family of models, will serve as NextLadder's inaugural A.I. partner. It will provide grantees with access to Claude subscriptions, API credits and in-house tech support. "Our team will work hand-in-hand with these organizations, bringing the same dedicated attention we give our largest enterprise customers to nonprofits tackling society's biggest challenges," said Anthropic co-founder Daniela Amodei in a LinkedIn post. As A.I. technologies evolve, concerns continue to mount over their potential to deepen inequality. A 2024 report from the International Monetary Fund that found that around 40 percent of global employment is exposed to A.I., with high earners poised to benefit most, possibly widening existing wealth gaps. With a combined net worth of more than $343 billion, the funders behind NextLadder hope to counterbalance those risks by channeling tech's promise toward underserved communities. Early examples of technology solutions that align with NextLadder's mission include CarePortal, an app that connects children and families in crisis to support options, and Rasa-Legal, a platform that helps individuals with criminal records navigate expungement. Other focus areas include improving access to credit, managing debt, and helping workers discover upwardly mobile career paths through innovative tech tools. "With rapid advancements in technology, especially in artificial intelligence, we have incredible opportunities to help people live healthier, more prosperous lives," said Mark Suzman, CEO of the Gates Foundation, in a statement. "NextLadder Ventures brings together the vision, resources and community connections needed to create solutions for millions of Americans and the frontline workers who serve them, opening up more paths to economic opportunity and making upward mobility more possible."

Funders commit $1 billion toward developing AI tools for frontline workers - The Economic Times

The funders announced Thursday that they will create a new entity, NextLadder Ventures, to offer grants and investments to nonprofits and for-profits to develop tools for those who often manage huge caseloads with few resources.A coalition of funders, including the Gates Foundation and Ballmer Group, will spend $1 billion over 15 years to help develop artificial intelligence tools for public defenders, parole officers, social workers and others who help Americans in precarious situations. The funders announced Thursday that they will create a new entity, NextLadder Ventures, to offer grants and investments to nonprofits and for-profits to develop tools for those who often manage huge caseloads with few resources. "The solutions that we're investing in, the hundreds of entrepreneurs that are going to bring forward solutions that incorporate leading edge technologies, are going to do it by coming alongside people who are living through some of the struggles in the economy," said Brian Hooks, CEO of Stand Together, a nonprofit started by Kansas-based billionaire Charles Koch. The other funders include hedge fund founder John Overdeck and Valhalla Foundation, which was started by Inuit cofounder Steve Cook and his wife Signe Ostby. Ballmer Group is the philanthropy of former Microsoft CEO Steve Ballmer and his wife Connie. The funders declined to reveal the exact financial commitments made by each of the contributors. The point of investing in these AI tools is to spur economic mobility, a focus all the funders share, they said. The funders believe there are many ideas for how AI technologies could help match people with resources after a disaster or an eviction, for example, or help a parole officer close out more cases for people who have met all of the criteria but are waiting for the paperwork to be processed. "As we traded notes on where we were making investments and where we saw broader gaps in the sector, it was readily apparent that there was a real opportunity to come together as a group of cofunders and cofounders to establish a new kind of investment organization," said Kevin Bromer, who leads the technology and data strategy at Ballmer Group. He will also serve as a member on NextLadder's board, which will include three independent board members and representatives from the other funders. NextLadder will be led by Ryan Rippel, who previously directed the Gates Foundation's economic mobility portfolio. The funder group has not yet determined if NextLadder will incorporate as a nonprofit or a for profit organization but said any returns they make from investments will go back into funding new initiatives. NextLadder will partner with AI company Anthropic, which will offer technical expertise and access to its technologies to the nonprofits and companies it invests in. Anthropic has committed around $1.5 million annually to the partnership, said Elizabeth Kelly, its head of beneficial deployments, which is a team that focuses on giving back to society. "We want to hand-hold grantees through their use of Claude with the same care and commitment we provide to our largest enterprise customers," Kelly said, referencing Anthropic's large language model. Hooks, of Stand Together, said philanthropy can reduce the riskiness of these types of investments and offer organizations more time to prove out their ideas. "If we're successful, this will be the first capital to demonstrate what's possible," Hooks said. Researchers like those at the Active Learning Network for Accountability and Performance in humanitarian action have studied some of the risks associated with using AI tools when interacting with sensitive populations or handling high-stakes interactions, for example, in humanitarian contexts. They recommend assessing whether AI is the best tool to solve the problem and, crucially, if it works reliably and accurately enough in high-risk settings. They also recommend assessing tools for bias, considering privacy protections and weighing the cost of potential dependence on a specific provider. The National Institute of Standards and Technology also emphasizes that trustworthy AI systems should be accountable to users and that it should be possible to explain or trace how a tool arrived at a certain conclusion or decision. Hooks emphasized that any AI tools NextLadder invests in will be shaped by the needs and feedback of these frontline workers. Tools that don't work for them, won't succeed, he said. Even with the potential risks of AI tools, he said it's imperative that groups that are struggling to move up the economic ladder have access to new technologies. "The idea that we would deprive those who are struggling in our country from the benefits of the leading edge solutions is unacceptable," Hooks said.