Economists warn of AI’s impacts on economy, jobs
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 on July 13 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.”
