Web Desk: Hundreds of leading economists and artificial intelligence experts have called on governments and institutions to prepare for the economic disruption that advanced AI could bring, warning that rapid technological progress could transform industries and threaten millions of jobs.
In an open letter researchers, economists and technology executives urged policymakers to act quickly to create systems that guide AI development while protecting workers and ensuring the benefits are broadly shared.
The statement, organized by Stanford University’s digital economy lab, said artificial intelligence could become significantly more powerful within the next decade and potentially drive an economic transformation on a scale exceeding the Industrial Revolution.
However, the experts warned that such rapid change could unfold far faster than previous industrial shifts, creating challenges including widespread job displacement alongside opportunities for improved productivity and higher living standards.
“AI may become radically more powerful over the next 10 years,” the letter said, highlighting both the risks and potential benefits of the technology’s continued advancement.
The four-sentence letter urged leaders to establish incentives, safeguards and institutions that encourage AI systems to work alongside humans rather than replace them.
The authors said governments and businesses should shape the future of AI deliberately instead of allowing economic forces alone to determine how the technology affects workers and communities.
According to Stanford’s digital economy lab, more than 200 economists and AI researchers have signed the statement, including 16 Nobel Prize winners.
Among the signatories was Yoshua Bengio, a pioneering computer scientist and professor at the University of Montreal, who warned that current AI development trends suggest the technology could dramatically alter economies worldwide.
Bengio said societies must make deliberate and democratic choices about AI adoption rather than allowing market forces to determine outcomes that could leave large sections of the population behind.
The letter reflects growing concern among academics, technology leaders and policymakers over how to balance AI innovation with economic security, workforce protection and social stability.
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