Anthropic Appoints Ben Bernanke to Long-Term Benefit Trust

Anthropic has appointed Dr. Ben Bernanke, former Chair of the Federal Reserve and Nobel Prize winner in Economic Sciences, to its Long-Term Benefit Trust (LTBT). This appointment aims to integrate high-level economic expertise into the governance of AI development to better anticipate and mitigate the economic disruptions caused by advanced artificial intelligence.

The Role of the Long-Term Benefit Trust (LTBT)

The Long-Term Benefit Trust is an independent governance body designed to ensure Anthropic adheres to its mission of developing advanced AI for the long-term benefit of humanity. As Anthropic is a Public Benefit Corporation, the LTBT serves as a critical check on the company's operations, balancing commercial success with the generation of social and public good.

Key characteristics of the LTBT include:

• Independence: Trustees are independent of Anthropic's management and investors. They hold no equity in the company, do not share in profits, and are compensated only for their time and service.
• Authority: The Trust has the authority to appoint members to Anthropic's board of directors.
• Advisory Capacity: Trustees advise the board and company leadership on critical decisions, specifically those concerning potential risks and the societal impacts of AI.

Ben Bernanke's Expertise and Contribution

Dr. Bernanke's appointment is specifically intended to address the economic dimensions of AI deployment. Daniela Amodei, Co-Founder and President of Anthropic, noted that AI may have the most significant economic effects of any technology in modern history, necessitating a deep understanding of how the technology affects global workforces and economies.

Bernanke brings a distinguished record of economic leadership and academic research, including:

• Federal Reserve Leadership: He led the Federal Reserve from 2006 to 2014, steering the U.S. economy through the 2008 global financial crisis.
• Academic Research: He spent over two decades as an academic economist, primarily at Princeton University, where he chaired the economics department.
• Nobel Prize: He was awarded the 2022 Nobel Prize in Economic Sciences for his research on the Great Depression and the role of banks in financial crises.

Governance Structure and Trust Composition

New Trustees are selected by existing Trustees in consultation with the company. Dr. Bernanke joins a multidisciplinary team of Trustees that includes Neil Buddy Shah, Richard Fontaine, and Mariano-Florentino Cuéllar. The collective expertise of the LTBT now spans global health, national security, law, policy, and economics, providing a diverse range of perspectives to guide the company's responsible AI development.