• by Gavin O'Malley  @mp_gavin, January 10, 2017

As their recent investment and acquisition histories demonstrate, artificial intelligence is key to the futures of every tech titan from Apple to Facebook.

Whether these companies like it or not, a new research-based fund -- the Ethics and Governance of Artificial Intelligence Fund -- has been formed to judge the ethical merits of their AI endeavors.

The $27 million fund is supported by the John S. and James L. Knight Foundation, a nonprofit led by eBay founder Pierre Omidyar, LinkedIn founder Reid Hoffman, among other investor

“Artificial intelligence agents will impact our lives in every society,” stated Alberto Ibargüen, president of Knight Foundation. “We want to influence the outcome by ensuring ethical behavior and governance that includes the interests of the diverse communities that will be affected.”

The MIT Media Lab and the Berkman Klein Center for Internet & Society at Harvard University have signed on to serve as founding academic institutions for the initiative.

Hoffman and the Omidyar Network each committed $10 million to the fund, while Knight Foundation committed $5 million.

With the MIT Media Lab and the Berkman Klein Center, they will form a governing board to distribute awards and facilitate related activities.

The William and Flora Hewlett Foundation and Jim Pallotta, founder of the Raptor Group, have each committed $1 million to the fund, which is expected to grow as other funders come on board.