US telco Verizon to invest $70 mn in nationwide AI skilling initiative

NEW DELHI: Verizon said on Wednesday that it is investing $70 million cumulatively as part of a nationwide initiative to provide jobseekers, displaced workers, and small businesses with artificial intelligence (AI) skills.

Verizon last year committed $20 million to help departing employees gain AI skills after announcing plans to cut 13,000 jobs. The new initiative adds a further $50 million.

The US telecom operator last year committed $20 million under the “Reskilling and Career Transition Fund” to help departing employees gain AI skills following its plans to cut 13,000 jobs. This new initiative adds another $50 million.