Anthropic makes pledge for public benefit initiative

Anthropic makes pledge for public benefit initiative

The artificial intelligence firm Anthropic announced it will commit 5 percent of its shares to its new public benefit fund as the industry faces heat over its potential impact on society and the labor market.

Anthropic, in a blog post Sunday, said the Anthropic Public Benefit Fund will help the company pursue it’s “mission in new ways,” including through large donations to traditional nonprofits or “specific populations.”

The company specifically mentioned AI’s potential impacts on the labor market , writing the technology “may generate enormous economic value, but it could also cause instability for many workers.”

“Anthropic has already committed $200 million to studying and addressing this issue, but given the pace of AI progress, bolder approaches may be needed,” the company said, adding the public benefit initiative will “have the versatility to pursue them.”

Stockholders still need to approve the 5 percent commitment, and Anthropic said there is a possibility of setting aside more funds if the company becomes more valuable.

“Because of the way the Fund is structured, the more Anthropic grows, the larger the share of the company that can be dedicated expressly to the public good,” the Claude-maker wrote.

It comes as Anthropic prepares for its initial public offering ( IPO ) as soon as next month.

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