A coalition of five mega-funders, including a non-profit started by Wichita-based billionaire Charles Koch, the Gates Foundation (Bill Gates), and the Ballmer Group (Steve Ballmer), will spend $1 billion during the next 15 years; the mission is 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 they’ll create a new entity, NextLadder Ventures, offering grants and investments to non-profits 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 Koch…