AVPN, with support from Google.org and ADB, has launched the AI Opportunity Fund: Asia-Pacific, a USD 15-million initiative aimed at equipping underserved communities in Asia with essential AI skills and knowledge to thrive in the evolving work landscape.
27 May 2024 – AVPN, Asia’s largest network of social investors, has announced the launch of the AI Opportunity Fund: Asia-Pacific, backed by Google.org and the Asian Development Bank (ADB). This USD 15-million initiative spans three years and aims to equip Asia’s workforce with essential artificial intelligence (AI) knowledge and tools. The goal is to ensure that AI-driven jobs and roles are accessible to more people in the region, particularly those from underserved communities.
The Fund will be distributed through an Open Call, targeting non-profit organisations, social enterprises, and workforce associations in Asia-Pacific that can effectively reach workers most impacted by AI-driven workforce transitions. Selected organisations will receive comprehensive support, including financial backing, guidance, and tailored AI training based on foundational courses developed by Google and its partners.
Scott Beaumont, President of Google Asia-Pacific, highlighted the significance of the initiative: “AI presents tremendous opportunities for the Asia-Pacific region, but it’s crucial to equip people with the skills needed to thrive. This new AI Opportunity Fund in Asia Pacific will help to empower underserved communities and ensure everyone benefits from the transformative power of AI.”
Employers in the Asia-Pacific region are optimistic about AI’s potential to enhance productivity. Over the next five years, 93% of employers expect to use generative AI tools, with some offering salary increases of up to 44% for workers with AI skills. However, despite the positive outlook, 16% of employees surveyed by PwC fear that AI could replace their jobs. This uncertainty is exacerbated for disadvantaged populations, where a significant portion does not use the internet, and job informality is high.
Naina Subberwal Batra, CEO of AVPN, emphasized the urgency of building an AI-ready workforce: “Building an AI-ready workforce is an essential social mandate for businesses and governments. This initiative is crucial as the region will have 165 million working-age people by 2030. We need to enable workers to adapt to the socioeconomic impacts of AI transitions, especially those with limited support. AVPN is optimistic about leveraging the expertise of impact organisations to bridge the gaps for an AI Workplace Just Transition, ensuring AI opportunities reach more workers.”
Jason Rush, Principal Regional Cooperation Specialist at ADB, underscored the importance of the Fund: “Asia’s evolving work landscape, shaped by AI, highlights the pressing need to bridge critical skills and knowledge gaps in underserved communities. The AI Opportunity Fund: Asia-Pacific will support organisations in upskilling and reskilling workers, ensuring they can benefit from the opportunities in the age of AI.”
Applications for the AI Opportunity Fund: Asia-Pacific will open soon. Interested organisations can register their interest to be notified when applications open.
