Policymakers Urged to Address AI’s Rapid Economic Impact

A group of economists and researchers is urging policymakers to act swiftly in response to potential economic disruptions caused by artificial intelligence (AI). They emphasize that AI might transform the economy faster than any technology before it. Key leaders, including Jack Clark from Anthropic, have signed a statement warning of these rapid changes.

The statement, released on July 13, 2026, outlines the prospective risks and opportunities associated with AI advancement. Researchers predict that AI could become significantly more powerful within a decade. This transformation might result in widespread job displacement, although massive improvements in living standards could also occur.

Titled “We Must Act Now,” the document has been endorsed by almost 200 individuals, including 15 Nobel laureates and the chief economists from leading AI labs such as OpenAI and Anthropic. Prominent signatories include Eric Schmidt, former CEO of Google, and Vinod Khosla, a well-known venture capitalist.

Tech industry leaders have long cautioned about AI’s potential impact on the workforce. There is concern that AI’s growth might lead to significant job losses as AI systems perform tasks previously managed by humans. Historically, economists have been skeptical, arguing that technological shifts unfold more gradually than suggested by industry advocates.

Nonetheless, a segment of economists is increasingly worried. They argue AI’s spread across the economy might be too fast and expansive compared to earlier technologies, necessitating more attention. Monday’s statement is a reflection of growing unease, highlighting fears that AI’s impact could surpass that of the Industrial Revolution but over a much shorter period.