Who is Ben Bernanke, ex-Fed chair appointed to Anthropic's Long-Term Benefit Trust - CNBC TV18

Ben Bernanke becomes the fourth member of Anthropic's Long-Term Benefit Trust, joining Neil Buddy Shah, Richard Fontaine and Mariano-Florentino Cuéllar.

Anthropic has appointed Ben Bernanke, the former chair of the Federal Reserve, to its Long-Term Benefit Trust (LTBT). The independent governance body oversees the company's mission of developing artificial intelligence responsibly for the long-term benefit of humanity.

Bernanke became the fourth member of Anthropic's Long-Term Benefit Trust, joining Neil Buddy Shah, Richard Fontaine and Mariano-Florentino Cuéllar. The LTBT is responsible for appointing Anthropic's board members and guiding the company on major decisions involving AI and its societal implications.

Who Is Ben Bernanke?

Ben Bernanke is an American economist best known for serving as the Chair of the US Federal Reserve from 2006 to 2014. He led the central bank through the 2008 global financial crisis and the recovery that followed.

Before joining the Federal Reserve, Bernanke spent more than two decades as an academic economist, primarily at Princeton University. While at Princeton, Bernanke headed the economics department and researched the Great Depression and the role banks play in financial crises. His work was recognised with the Nobel Prize in Economic Sciences in 2022.

Following his tenure at the Federal Reserve, he joined the Brookings Institution as a Distinguished Fellow and has also held advisory roles at investment firms, including Citadel and PIMCO.

Role at Anthropic

As a member of Anthropic's Long-Term Benefit Trust, Bernanke will contribute to research on how AI is changing the economy. He will provide his expertise for Anthropic's economic research while also contributing to other areas of the company's work.

Speaking on his appointment, Bernanke said AI holds enormous potential, but its impact will depend on the institutions built around it. "Anthropic has created a unique governance structure to try to ensure that the long-run benefits of AI for humanity far outweigh the risks. I am honored to have this opportunity, and I will try to contribute in any way I can to this critical mission," he added.

About Anthropic's Long-Term Benefit Trust

Anthropic, founded in 2021 by former OpenAI researchers and executives, a Public Benefit Corporation. The Long-Term Benefit Trust comprises independent trustees with expertise across a wide range of areas that spans economics, law, policy, national security and global health.

"The Trustees are chosen for their expertise across a wide range of areas, and are independent of the company's management and investors: they hold no equity in Anthropic, don't share in its profits, and are compensated only for their time and service. New Trustees are selected by the existing ones, in consultation with the company," according to Anthropic.