A coalition of more than 200 economists, computer scientists, and technology executives released an open letter calling for urgent institutional action to manage the economic and employment implications of artificial intelligence development.
The statement, organized by Stanford University’s digital economy lab and released Monday, warns that AI could undergo dramatic advancement over the coming decade. According to the letter, such developments could trigger economic transformation at a scale comparable to or exceeding the Industrial Revolution, though compressed into a substantially shorter timeframe. The signatories identify both potential risks and opportunities, citing large-scale job displacement as a concern while also noting possibilities for significant improvements in living standards.
The letter has garnered signatures from prominent figures in economics and technology, including 16 Nobel Prize winners. Signatories include officials from major technology companies such as Anthropic, Google, and OpenAI, alongside leading academic researchers. Computer scientist Yoshua Bengio, a pioneering figure in AI research and professor at the University of Montreal, was among those who signed and issued additional commentary on the matter.
In his statement, Bengio emphasized that current trends in AI development suggest substantial economic transformation is plausible. He stressed the importance of deliberate decision-making through democratic processes rather than allowing market dynamics alone to determine outcomes, warning against approaches that could disadvantage most citizens. The letter itself calls on leaders to establish the necessary incentives, safeguards, and institutional frameworks to guide AI development in ways that support rather than undermine human interests and societal welfare.
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