Leading researchers, economists warn of AI’s effect on the global economy
Leading researchers, economists warn of AI’s effect on the global economy
Publish Date: 2026-07-13 09:16:00
Source Domain: www.theglobeandmail.com
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Construction on AI Data Centre in California: The article begins by highlighting ongoing construction activities for a new data centre in Vernon, California, emphasizing the importance of data centres in the AI buildout.
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Call for Urgent Policy Creation on AI: Over 200 researchers and economists, including 15 Nobel laureates, have jointly signed a statement urging governments and technology leaders to urgently create policies to manage the economic impacts of artificial intelligence.
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Potential for Rapid Economic Transformation: The statement warns that AI could drive a significant economic transformation faster than the Industrial Revolution, stressing the need for proactive measures to avoid large-scale issues.
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Risk of Job Displacement: There are concerns regarding potential large-scale job displacement due to AI’s rapid advancement, stressing the urgent need for policies that can navigate these risks.
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Call for Deep Research and Policy Development: The signatories call for deeper research on AI’s economic impacts and the development of the necessary institutions to ensure AI benefits society while mitigating risks.
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Leading Economists Involved: Notable individuals involved in this initiative include Anton Korinek, Erik Brynjolfsson, Ajay Agrawal, Tom Cunningham, Sarah Friar, Jeff Dean, and Jack Clark, among others.
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Need for Proactive Strategy: The urgency to act now before uncertainty leads to delayed action in policy development is a key message in their statement, emphasizing that the AI transformation may only give us a few years to adapt.
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Potential Comparison to Industrial Revolution: The statement highlights that AI might offer fewer years to adapt compared to the decades given for previous technological breakthroughs like steam, electricity, and computers.
