- News
- Technology News
- Tech News
- Read the letter Eric Schmidt, Reid Hoffman, and top economists signed warning about AI wiping away millions of jobs; send a warning: Economists, policymakers and technology leaders must act now to understand …
Trending
Mark Zuckerberg
Zhenghua Yang
Elon Musk
Hack Of The Day
Read the letter Eric Schmidt, Reid Hoffman, and top economists signed warning about AI wiping away millions of jobs; send a warning: Economists, policymakers and technology leaders must act now to understand …
TOI Tech Desk / TIMESOFINDIA.COM / Jul 14, 2026, 07:07 IST
Comments
AAText Size
- Small
- Medium
- Large
Over 200 of the world’s most influential economists, technology executives and researchers have signed an open letter warning that artificial intelligence (AI) poses a serious and growing threat to jobs. The letter also says that the governments are not moving fast enough to prepare for what is coming. The letter, titled “We Must Act Now” and subtitled “A Statement on AI’s Transformation of the Economy”, was organised by the Stanford Digital Economy Lab. At just 88 words, it is deliberately concise.
Who all have signed the letter
Among those who signed: former Google CEO Eric Schmidt, LinkedIn co-founder Reid Hoffman, and Nobel Prize laureates Joseph Stiglitz, Daron Acemoglu, and Simon Johnson. Also on the list are Google AI lead Jeff Dean, Anthropic co-founder Jack Clark and OpenAI finance chief Sarah Friar — making it one of the rare documents that brings together both AI builders and the economists studying the technology’s consequences. Other include Godfathers of AI Yoshua Bengio and Yann LeCun, and Vinod Khosla.
What the letter says
The letter’s argument is straightforward: It warns that AI could become “radically more powerful” over the coming decade, and without meaningful action from policymakers, the result could be “large-scale job displacement” on a scale the world has not seen before.We Must Act NowA Statement on AI’s Transformation of the EconomyAI may become radically more powerful over the next 10 years.This could drive an unprecedented transformation of our economy, larger than the Industrial Revolution, but unfolding over a vastly shorter time frame. It could bring risks, including large-scale job displacement, as well as opportunities such as major gains in living standards.Economists, policymakers and technology leaders must act now to understand the economics of transformative AI and to build the incentives, guardrails, and institutions needed to steer AI in a direction that complements humans and benefits society.The letter comes as Anthropic CEO Dario Amodei has predicted that AI could eliminate up to half of all entry-level white-collar jobs within five years. Many economists and technologists sit somewhere in between, arguing that AI is more likely to transform jobs than replace them outright.Get the latest technology news and updates. Download the TOI App.
End of Article
Latest Mobiles
View All
Moto G77 Power 5G
Lava Bold N2 Pro
Vivo X300 FE
₹86,999
Infinix Note 60 pro Pininfarina Limited Edition
Nothing Phone 4b
₹34,999
Follow Us On Social Media
Photostories
Hot Picks
WWE Raw Preview
Top Trending
Samantha Busch
