Nobel laureates call for urgent AI economic planning

Sixteen Nobel laureates have joined leading economists and AI researchers in calling for urgent preparation for the economic changes that more powerful AI systems could trigger.

The statement, titled We Must Act Now: A Statement on AI’s Transformation of the Economy, was released by the Stanford Digital Economy Lab.

It was organised by economists Erik Brynjolfsson, Ajay Agrawal, Anton Korinek and Tom Cunningham, and has been signed by more than 200 experts.

The statement warns that AI may become radically more powerful over the next decade, potentially driving an economic transformation larger than the Industrial Revolution but unfolding over a much shorter period.

The signatories say AI could bring major gains in living standards, but also risks, including large-scale job displacement.

They argue that economists, policymakers and technology leaders must act now to understand these impacts and prepare society for the transition.

The statement calls for incentives, guardrails and institutions that steer AI towards complementing human labour and benefiting society.

Its authors stress that the economic outcome of AI is not predetermined and will depend on choices made by governments, companies and researchers.

Why does it matter?

The statement adds weight to the debate over AI’s economic impact because it brings together Nobel laureates, economists, AI researchers and technology leaders around a common warning: societies may have far less time to adapt to AI than they had during earlier technological shifts. Its central message is not that job displacement is inevitable, but that policy choices made now will shape whether AI raises living standards broadly or concentrates economic power and leaves many workers behind.

Would you like to learn more about AI, tech, and digital diplomacy? If so, ask our Diplo chatbot!