Key facts
- Verizon is investing $70 million in AI training for job seekers, small businesses, and educators.
- The initiative aims to train hundreds of thousands of people.
- Verizon is partnering with non-profits like Goodwill Industries.
- Training resources will be provided by companies including IBM, Google, Anthropic, Microsoft, and OpenAI.
- Verizon previously invested $20 million in AI skills training for departing employees.
Verizon announced on Wednesday that it is investing $70 million in a nationwide effort to provide artificial intelligence training to job seekers, small businesses, and educators. The U.S. telecom company stated the initiative is a response to the significant transformation occurring in the U.S. economy due to AI.
The program plans to reach hundreds of thousands of individuals by partnering with major non-profit organizations like Goodwill Industries and utilizing training resources from technology companies including IBM, Google, Anthropic, Microsoft, and OpenAI.
Verizon CEO Dan Schulman emphasized the importance of AI skills for the future workforce, stating, "AI will change the face of the workforce." He urged other large companies to contribute financially to help workers acquire necessary skills for AI-related jobs, suggesting that a collective investment from Fortune 100 companies could create a multibillion-dollar fund.
This new investment builds upon Verizon's previous commitment; last year, the company invested $20 million to help departing employees gain AI skills following a decision to cut 13,000 jobs.