Kevin Hart wants entrepreneurs to be equipped in artificial intelligence (AI).
AI is sweeping across various industries. While some remain skeptical, adopting it will be essential to avoid being left behind in a rapidly changing landscape.
“The train is coming and coming fast,” Hart told Fortune. “Either you’re on it, or if not, get out of the way.”
As AFROTECH™ previously told you, Hart partnered with the Fifteen Percent Pledge and A16z’s Cultural Leadership Fund for the AI Illumination Grant that will disperse $35,000 in funding to Black founders, with the winner receiving $20,000.
Considerations for recipients include:
- High potential for growth
- Sustainable competitive advantage
- Strong management team
- Strong use case for AI tools
- Grant dollars to manage growth challenges and expansion
- Prioritizes inclusivity and centers community impact
Coramino Fund
Hart is taking further action through his Coramino Fund — the investment arm for his tequila company Gran Coramino that is in its third year and has benefited over 100 small businesses. He will be launching grants to empower entrepreneurs with $10,000 in funding and give them access to “cutting-edge AI technological training and hands-on learning to responsibly and effectively incorporate into their operations,” notes Fortune.
These grants are timely as they can help lessen the technology gap between Black communities and their white counterparts. In fact, a study released by the Michigan State University’s Julian Samora Research Institute reported 1.8% of Black-owned firms are using AI in comparison to 84% of white-owned businesses. When considering education and funding gaps, there are additional barriers for minority groups to overcome in order to access technological innovations.
To close the gap, Coramino Fund will also provide education through a partnership with 1st Street Partnerships, which was created by Monk Inyang and Ifiok Inyang in 2023 to serve underrepresented communities by making AI education accessible.
“It’s very exciting to find ways to be a part of the conversation and best position yourself to use it in a manner of good,” he expressed, according to Fortune.
