Hundreds of AI Experts Urge Governments to Prepare for AI-Driven Economic Disruption
The statement, signed by over 200 economists and AI researchers, including 16 Nobel laureates, predicts “that AI may become radically more powerful over the next 10 years.”
News
- Hundreds of AI Experts Urge Governments to Prepare for AI-Driven Economic Disruption
- Saudi Arabia Adds Agentic AI to Its National Data Platform
- SoftBank CEO Dismisses AI Bubble Fears, Predicts $5T Annual Investment
- Nadella Warns of AI’s Reverse Information Paradox
- Meta Removes AI Image Feature After Instagram Privacy Backlash
- U.S. Businesses Turn to Chinese AI Models as Cost Pressures Mount
Hundreds of AI experts have demanded that policymakers and technology leaders “must act now” to prepare for the impending economic crisis caused by the advanced technology.
In a statement released and organized by Stanford University’s digital economy lab, experts term AI “larger than the Industrial Revolution.” “It could bring risks, including large-scale job displacement, as well as opportunities such as major gains in living standards,” the statement added.
The statement, signed by over 200 economists and AI researchers, including 16 Nobel laureates, predicts “that AI may become radically more powerful over the next 10 years.”
The letter calls for governments and industry to build “incentives, guardrails, and institutions” to ensure that AI complements humans and benefits society.
“We cannot improvise our strategy and institutions in the middle of the transformation; waiting for certainty means arriving too late,” said Anton Korinek, professor at the University of Virginia.
The list of economists and AI researchers who signed the statement includes Michael Spence, New York University; Daron Acemoglu, MIT; Joseph Stiglitz, Columbia University; Simon Johnson, MIT; Christopher A. Pissarides, London School of Economics; Paul Milgrom, Stanford University; George Akerlof, Georgetown University and University of California, Berkeley; Philippe Aghion, INSEAD; Eric Schmidt, Former CEO of Google; Peter Howitt, Brown University; Oliver D. Hart, Harvard University; Bengt Holmstrom, MIT; Alvin Roth, Stanford University; Michael Kremer, University of Chicago; Roger B. Myerson, University of Chicago; Paul Krugman, Graduate Center of the City University of New York; and Ben Bernanke, Brookings Institution.
The debate over AI’s impact continues, with experts arguing whether it replaces or assists workers. This letter comes amid rising worries about AI’s effect on employment, particularly following Microsoft’s announcement last week to cut 4,800 jobs.
