Anthropic appointed former Federal Reserve Chair Ben Bernanke to its Long-Term Benefit Trust on Thursday. Bernanke will help the company understand how AI is changing the economy, according to a blog post from Anthropic. The Long-Term Benefit Trust is Anthropic's independent governance structure that advises the company and appoints its board members.
Bernanke Served as Federal Reserve Chair from 2006 to 2014
Bernanke served as Federal Reserve chairman from 2006 to 2014, having succeeded the late Alan Greenspan. After taking office, he found himself in the middle of the worst economic collapse since the Great Depression when the financial crisis hit in 2008. Part of his legacy was taking the Fed into the realm of zero interest rates and quantitative easing.
After leaving the Fed, he served in several capacities at organizations including the Brookings Institution, Citadel and Pimco. In 2022, he was awarded the Nobel Prize in economics for research on Great Depression causes.
"Anthropic has created a unique governance structure to try to ensure that the long-run benefits of AI for humanity far outweigh the risks," Bernanke said in a statement. "I am honored to have this opportunity, and I will try to contribute in any way I can to this critical mission."
Long-Term Benefit Trust Advises Anthropic and Appoints Board Members
In his role as a member of Anthropic's Long-Term Benefit Trust, Bernanke will help the company understand how AI is changing the economy. The trust serves as an independent governance structure that advises the company and appoints its board members.
Anthropic was founded in 2021 by a group of researchers and executives who defected from OpenAI. The company is valued at $965 billion.
Trust Includes Four Members with No Equity Stakes
Bernanke is the fourth member of Anthropic's Long-Term Benefit Trust. He joins alongside Neil Buddy Shah, CEO of the Clinton Health Access Initiative, Richard Fontaine, a national security expert, and Mariano-Florentino Cuéllar, an international affairs expert who the company appointed in January.
Members of the trust do not hold any equity in Anthropic, and are paid exclusively for their time and service, Anthropic said. Existing trustees select new members in consultation with the company.
FAQ
What did Anthropic announce on Thursday?
Anthropic announced on Thursday that it has appointed Ben Bernanke, the former chair of the Federal Reserve, to its Long-Term Benefit Trust, the company's independent governance structure that advises the company and appoints its board members.
When did Ben Bernanke serve as Federal Reserve chairman?
Ben Bernanke served as Federal Reserve chairman from 2006 to 2014, having succeeded the late Alan Greenspan.
How many members does Anthropic's Long-Term Benefit Trust have?
Anthropic's Long-Term Benefit Trust has four members: Ben Bernanke, Neil Buddy Shah (CEO of the Clinton Health Access Initiative), Richard Fontaine (a national security expert), and Mariano-Florentino Cuéllar (an international affairs expert).
