Hundreds Of Economists Say 'We Must Act Now' On AI’s Economic Impact And Job Displacement Risks
Hundreds of economists and tech leaders have signed an open letter urging immediate action to address the economic risks and potential job displacement caused by artificial intelligence. The group emphasizes the need for democratic oversight and institutional guardrails to ensure AI benefits society rather than leaving citizens behind.
Why it matters
The involvement of Nobel laureates and major tech executives signals a growing consensus among experts that AI development requires proactive policy intervention to manage societal disruption.
Trump Anthropic AI via Associated Press SAN FRANCISCO (AP) — Hundreds of economists say in an open letter that institutions “must act now” to address how artificial intelligence could transform the economy and could put many people out of work.
The statement released Monday was signed by top economists, along with computer scientists and some executives at tech companies including Anthropic, Google and OpenAI.
“AI may become radically more powerful over the next 10 years,” says the letter organized by Stanford University’s digital economy lab. “This could drive an unprecedented transformation of our economy, larger than the Industrial Revolution, but unfolding over a vastly shorter time frame. It could bring risks, including large-scale job displacement, as well as opportunities such as major gains in living standards.”
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