Verizon to invest $70 million in AI training effort

Verizon has pledged to spend $70 million on artificial intelligence (AI) training initiatives nationwide, aimed at equipping job seekers, small business owners, and educators with the necessary skills to thrive in an AI-driven economy, according to Reuters. The telecommunications giant is collaborating with prominent non-profit organizations like Goodwill Industries, and intends to provide AI training to hundreds of thousands of individuals through resources offered by tech leaders such as IBM, Google, Anthropic, Microsoft, and OpenAI.

Verizon's CEO Dan Schulman emphasized the importance of AI in reshaping the workforce and preserving democracy during a recent interview. Schulman advocated for participation from major corporations to bolster funding, enabling workers to acquire AI-specific skills. He suggested that if each Fortune 100 company contributed $50 million or $70 million to the cause, it would result in a multibillion-dollar fund.

Notably, Verizon had previously allocated $20 million to assist departing employees in acquiring AI skills following its decision to lay off 13,000 workers, as reported by Reuters. The company's latest investment builds on this initial commitment, totaling $50 million.