More than 200 economists, AI researchers, and 16 Nobel laureates have signed an open letter demanding immediate action from policymakers and tech leaders to address the economic upheaval artificial intelligence is expected to cause. Organized by Stanford University’s digital economy lab, the letter warns that AI’s capabilities could accelerate dramatically in the next decade, triggering a shift they describe as larger than the Industrial Revolution but compressed into a far shorter time frame.

The signatories argue that this transformation brings both serious risks, such as widespread job displacement, and potential benefits, including major improvements in living standards. To manage the disruption, they call for governments and industry to build new incentives, guardrails, and institutions that keep AI complementary to human work rather than replacing it outright. Anton Korinek, a University of Virginia professor who led the effort, stressed that waiting for certainty is a losing strategy: “We cannot improvise our strategy and institutions in the middle of the transformation.”

The letter lands as concrete evidence of AI’s impact on employment mounts. In October, Amazon cut roughly 14,000 jobs, months after its CEO acknowledged generative AI and automated agents would take over certain roles. Recent U.S. college graduates are also facing a tightening labor market. Broader concerns extend to global inequality—the United Nations warned in December that wealthier economies could capture early AI gains while poorer nations risk being left behind. The signatories hope the letter will push leaders to act before the window for thoughtful preparation closes.

Source: Al Jazeera