Hundreds of economists say ‘we must act now’ on AI’s economic impact and job displacement risks
The letter says AI could reshape the economy faster than the Industrial Revolution and warns of large-scale job displacement.
- On Monday, July 13, 2026, the Stanford Digital Economy Lab and over 200 economists and AI researchers, including 16 Nobel laureates, released an open letter titled "We Must Act Now" urging immediate policy action to address AI's economic transformation.
- The statement warns that AI could drive an economic transformation larger than the Industrial Revolution but unfolding over a "vastly shorter" time frame, creating risks of large-scale job displacement that current institutions are ill-equipped to manage.
- Signatories including executives from Anthropic, Google, and OpenAI argue policymakers must create incentives and guardrails to steer AI toward complementing human labor, while METR researcher Tom Cunningham cautioned that economists are "driving in the fog."
- Reports cite 50,000 job losses in 2025, while 99 percent of executives surveyed expect headcount reductions in the next two years, prompting experts to urge democratic choices rather than letting market forces alone dictate outcomes.
- Anton Korinek, professor at the University of Virginia, warned that previous technological revolutions gave societies decades to adapt, but AI offers only a few years, meaning "waiting for certainty means arriving too late" to build necessary institutions.
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A group of more than 200 people, among leading economists and artificial intelligence researchers (AI), asked for further studies on the likely impacts of technology, stating that it can become "radially more powerful" in the next decade and needs to be oriented in a human-friendly direction.
Top economists and AI leaders warn of 'unprecedented transformation'
FILE – Pages from the Anthropic website and the company’s logo are displayed on a computer screen in New York, Feb. 26, 2026. (AP Photo/Patrick Sison, File) AI and economic experts signed a joint statement calling for action from economists, policymakers, and technology leaders to prepare for an unprecedented transformation of the economy from artificial intelligence. The statement, with almost 200 signatories, said that “AI may become radically…
Why Are Economists Warning About AI's Impact On Jobs
More than 200 economists, researchers, and technology executives have signed an open letter urging governments and businesses to prepare for artificial intelligence's potential impact on employment. According to the report, the signatories include 16 Nobel laureates as well as leaders from Anthropic, Google, and OpenAI, who warn that AI could transform the economy faster than previous technological revolutions.The report said the letter, titled …
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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 leave many people unemployed.
More than 200 economists, including Nobel laureates, have called for necessary regulations regarding the impact of artificial intelligence on the economy and employment.
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