Policymakers Urged to Address AI’s Economic Impact

Artificial intelligence has the potential to rapidly transform the economy, prompting a call from economists and researchers for swift action from policymakers. A collective statement issued by the experts highlights the need to understand and prepare for potential disruptions caused by AI.

Jack Clark, co-founder of Anthropic, is among those who signed the statement. He warns that AI could reshape economic structures faster than previous technological advances.

On July 13, 2026, a statement titled “We Must Act Now” was released, which was signed by nearly 200 individuals, including 15 Nobel laureates and chief economists from leading AI labs OpenAI and Anthropic. Notable signatories include Eric Schmidt, former CEO of Google, and venture capitalist Vinod Khosla.

The statement suggests AI could become significantly more powerful in the next decade, posing risks such as widespread job displacement, alongside potential benefits like improved living standards.

Tech industry leaders have long cautioned about AI’s growing influence on human labor, predicting large-scale job disruptions. However, economists have been skeptical, arguing that technological evolutions typically occur at a slower pace than projected.

Despite initial skepticism, there is increasing concern among economists that AI is moving through the economy more swiftly and expansively than prior technologies, with some feeling their discipline is downplaying the risks.

The statement serves as a recent indication that these concerns are gaining traction, warning of AI effects potentially comparable to the Industrial Revolution, yet unfolding in a much shorter timeframe.