As rapid advancements in artificial intelligence threaten to disrupt the global economy, policymakers must prepare detailed legislative plans now to effectively manage the inevitable upcoming period of crisis.

Key Points

• Anthropic reported an annualized revenue rate of $47 billion as of May, demonstrating that AI growth is outpacing previous technological booms like the internet and mobile.
• Historical precedents, such as the 2008 financial crisis and the 2020 CARES Act, show that bipartisan support for major economic intervention is possible but typically short-lived.
• Current AI policy proposals from labs lack legislative detail, while government-led initiatives like retraining programs are often too small to address large-scale workforce displacement.
• The Center for Shared AI Prosperity is currently soliciting actionable policy ideas regarding tax codes, safety nets, and shared AI ownership to prepare for future economic emergencies.

Why it Matters

History suggests that political windows for significant economic reform open briefly during emergencies and close quickly once stability returns. Having pre-drafted, detailed legislation ready ensures that policymakers can implement effective solutions rather than relying on improvised or inadequate measures when the next major disruption occurs.