Bridging the Gap: AVPN's $15 Million AI Opportunity Fund Empowers Asia-Pacific Workers for the Future
May 30, 2024, 9:43 am
Location: Philippines, Metro Manila, Pasig
Employees: 1001-5000
Founded date: 1966
Total raised: $135M
Google.org
Total raised: $175K
In a groundbreaking move, AVPN, in partnership with Google.org and the Asian Development Bank, has unveiled the AI Opportunity Fund: Asia-Pacific, a bold initiative aimed at revolutionizing the workforce landscape in the region. With a staggering $15 million investment, this three-year program seeks to equip Asia's workforce with the essential artificial intelligence (AI) skills and knowledge necessary to thrive in an ever-evolving job market.
The core objective of the fund is to ensure that the opportunities presented by AI are accessible to a wider demographic, particularly those from marginalized communities who often face barriers to entry in the tech-driven economy. Through an open call, non-profits, social enterprises, and workforce associations in the Asia-Pacific region will be identified and selected to receive comprehensive support, including guidance, financial backing, and customized AI training based on foundational courses developed by Google and its external partners.
Scott Beaumont, President of Google Asia-Pacific, emphasized the transformative power of AI in the region, highlighting the need to equip individuals with the skills required to thrive in the digital age. Employers in Asia-Pacific are increasingly recognizing the potential of AI to enhance productivity, with a significant percentage planning to integrate generative AI tools in the next five years. This shift towards AI adoption has also led to salary increases of up to 44% for workers with AI proficiency, signaling a growing demand for skilled AI professionals in the workforce.
Despite the positive outlook on AI, there remains a level of uncertainty among employees, with 16% expressing concerns about the possibility of AI replacing their jobs. This apprehension is further compounded by existing challenges faced by underserved communities, where access to the internet is limited, and job informality rates are high. The AI Opportunity Fund aims to address these disparities by providing targeted support to bridge critical skills and knowledge gaps, ensuring that workers are well-equipped to seize the opportunities presented by AI.
Naina Subberwal Batra, CEO of AVPN, underscored the urgency of building an AI-ready workforce, citing the region's projected workforce potential of 165 million by 2030. The need for an enablement initiative that supports workers in adapting to the changing job landscape is paramount, especially as the socioeconomic impact of AI work transitions becomes more pronounced. AVPN is optimistic about leveraging the expertise of impact organizations to facilitate a smooth transition towards an AI-driven future, where the benefits of AI work opportunities are accessible to a broader spectrum of workers.
Jason Rush, Principal Regional Cooperation Specialist at ADB, emphasized the importance of upskilling and reskilling workers to ensure they can leverage the evolving opportunities in the age of AI. The AI Opportunity Fund: Asia-Pacific represents a pivotal step towards empowering workers and bridging the gap in underserved communities, setting the stage for a more inclusive and technologically advanced workforce in the region.
As applications for the AI Opportunity Fund: Asia-Pacific prepare to open, organizations are encouraged to register their interest and be part of this transformative initiative that promises to shape the future of work in Asia-Pacific. With AVPN leading the charge, supported by Google.org and ADB, the stage is set for a new era of empowerment and opportunity for workers in the region.
The core objective of the fund is to ensure that the opportunities presented by AI are accessible to a wider demographic, particularly those from marginalized communities who often face barriers to entry in the tech-driven economy. Through an open call, non-profits, social enterprises, and workforce associations in the Asia-Pacific region will be identified and selected to receive comprehensive support, including guidance, financial backing, and customized AI training based on foundational courses developed by Google and its external partners.
Scott Beaumont, President of Google Asia-Pacific, emphasized the transformative power of AI in the region, highlighting the need to equip individuals with the skills required to thrive in the digital age. Employers in Asia-Pacific are increasingly recognizing the potential of AI to enhance productivity, with a significant percentage planning to integrate generative AI tools in the next five years. This shift towards AI adoption has also led to salary increases of up to 44% for workers with AI proficiency, signaling a growing demand for skilled AI professionals in the workforce.
Despite the positive outlook on AI, there remains a level of uncertainty among employees, with 16% expressing concerns about the possibility of AI replacing their jobs. This apprehension is further compounded by existing challenges faced by underserved communities, where access to the internet is limited, and job informality rates are high. The AI Opportunity Fund aims to address these disparities by providing targeted support to bridge critical skills and knowledge gaps, ensuring that workers are well-equipped to seize the opportunities presented by AI.
Naina Subberwal Batra, CEO of AVPN, underscored the urgency of building an AI-ready workforce, citing the region's projected workforce potential of 165 million by 2030. The need for an enablement initiative that supports workers in adapting to the changing job landscape is paramount, especially as the socioeconomic impact of AI work transitions becomes more pronounced. AVPN is optimistic about leveraging the expertise of impact organizations to facilitate a smooth transition towards an AI-driven future, where the benefits of AI work opportunities are accessible to a broader spectrum of workers.
Jason Rush, Principal Regional Cooperation Specialist at ADB, emphasized the importance of upskilling and reskilling workers to ensure they can leverage the evolving opportunities in the age of AI. The AI Opportunity Fund: Asia-Pacific represents a pivotal step towards empowering workers and bridging the gap in underserved communities, setting the stage for a more inclusive and technologically advanced workforce in the region.
As applications for the AI Opportunity Fund: Asia-Pacific prepare to open, organizations are encouraged to register their interest and be part of this transformative initiative that promises to shape the future of work in Asia-Pacific. With AVPN leading the charge, supported by Google.org and ADB, the stage is set for a new era of empowerment and opportunity for workers in the region.