Story
Verizon Pledges $70 Million for Nationwide AI Workforce Training Initiative
Summary
The telecommunications firm is partnering with major non-profits and tech companies to provide AI skills training to job seekers, small businesses, and educators across the U.S.
Verizon announced on Wednesday it is investing $70 million in a nationwide initiative to provide artificial intelligence training as the technology reshapes the U.S. economy. The program aims to equip job seekers, small businesses, and educators with critical skills for the evolving workforce.
Program Scope and Key Partners
The U.S. telecom company is partnering with major non-profit organizations, including Goodwill Industries, to deliver the training to hundreds of thousands of people. The educational resources will be provided by a consortium of leading technology firms, including IBM, Google, Anthropic, Microsoft, and OpenAI, according to a report from Reuters.
This new effort adds $50 million to a previous commitment. Last year, Verizon invested $20 million to help departing employees gain AI skills after announcing it was cutting 13,000 jobs.
AdA Call for Corporate Action
Verizon CEO Dan Schulman stressed the urgency of workforce reskilling in the face of rapid technological change. "AI will change the face of the workforce," Schulman said in an interview, adding that such efforts are necessary "to protect the democracy."
Schulman called on other corporate leaders to join the effort, suggesting a broader fund could be created if other large companies participated. "It’s in the self-interest of all business leaders to step up," he stated. "If every Fortune 100 (company) put $50 million or $70 million into this, we have a multibillion-dollar fund."
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