The funding will be used to tackle complex problems at the intersection of various scientific disciplines, such as disease research, experimental biology, materials science, and sustainability. Google has not set a specific target for the number of projects to be financed but aims for the funding to be "significant enough to fuel scientific breakthroughs". The funds are likely to be distributed to around 15 organizations by 2026. This move follows similar commitments by Google and other tech giants like Amazon, which recently announced $110 million in grants and credits to attract AI researchers.
Key takeaways:
- Google is committing $20 million in cash and $2 million in cloud credits to a new funding initiative aimed at supporting scientific breakthroughs using AI.
- The funding will be non-equity and will be directed towards academic and non-profit institutions globally.
- Google's philanthropic arm, Google.org, is behind the initiative, which is part of a broader push by Big Tech to engage with young innovators and startups.
- Google's AI unit DeepMind has had a significant year, with co-founder Demis Hassabis receiving a knighthood for services to AI and the unit winning half of the Nobel Prize in Chemistry for their work on AlphaFold.