Economists Erik Brynjolfsson and Ajay Agrawal Warn That Artificial Intelligence Requires Immediate Policy Planning

Hundreds of leading economists and researchers have issued an open letter calling for immediate governmental and institutional action regarding artificial intelligence. The warning, signed by experts including Michael Spence and Daron Acemoglu, states that AI will drive an economic transformation unmatched in scope or speed since the Industrial Revolution. The statement urges leaders to build necessary guardrails and policies to ensure AI benefits the broader public rather than concentrating wealth among a few. Experts cautioned that the pace of AI development is outpacing society’s ability to adapt structurally. Anton Korinek, a University of Virginia professor associated with the initiative, stressed that policymakers cannot afford delays. He stated that "waiting for certainty means arriving too late" to guide the technology’s deployment. The consortium of signatories, which includes researchers from major tech firms, emphasized that proactive structuring of economic systems is necessary to guide AI development responsibly and protect stable prosperity.

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