Former Fed chair Ben Bernanke joins Anthropic's AI oversight trust

July 9 (Reuters) - Anthropic ‌said on ​Thursday ​it has appointed former U.S. Federal Reserve chair Ben Bernanke to its Long-Term Benefit ‌Trust, an oversight body responsible for ensuring the ⁠AI startup remains committed to its public mission.

A Nobel laureate ‌in economic sciences, Bernanke ‌led the Fed from 2006 to 2014, steering the central bank through the 2008 financial crisis.

"The potential ​of artificial intelligence is enormous, and so is the range of outcomes. How that potential ⁠plays out will depend, in part, on the institutions we build around ​it," Bernanke said in a statement.

Anthropic's Long-Term Benefit Trust is an independent body whose ​members are selected for their diverse ‌expertise and have no financial stake in the startup.

The company operates as a ⁠public benefit corporation, aiming to balance commercial success with social and public benefit.

Bernanke joins Neil Buddy Shah, Richard ⁠Fontaine and Mariano-Florentino Cuellar on its Long-Term Benefit Trust. They are ​independent of the company's management and investors and have the power to appoint and remove a majority of its corporate ‌board members.

He chaired the economics department at Princeton and built a body of ‌research on the Great Depression and the role ⁠banks play in financial ‌crises — work that ​earned him the Nobel Prize in 2022.

(Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi ‌Majumdar)

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