American billionaire gives Oxford University £150m for AI ethics centre

Baku, June 19, AZERTAC

An American billionaire has given Oxford University £150 million, one of the largest donations in its history, for a new institute that will explore the ethics of artificial intelligence, according to belfasttelegraph.

The gift has been made by Stephen A Schwarzman, the chief executive and co-founder of US investment and private equity firm Blackstone. A centre named after the philanthropist will house all of the university’s humanities subjects for the first time and is expected to open in 2024. It will also be home to Oxford University’s new Institute for Ethics in AI which will explore the questions affecting the workplace and society. Mr Schwarzman, who is not an Oxford graduate, said he is “proud” to partner with the university to create the centre, which will also include performing arts and exhibition venues.

The university said the 72-year-old’s multimillion-pound donation marks its largest single gift since the Renaissance. In October last year he announced a foundational 350 million dollar (£279 million) gift to establish the Schwarzman College of Computing at MIT in the US, and in 2007 he also donated 100 million dollars (£79 million) to the New York Public Library, whose board he serves.

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