Anthropic adds Ben Bernanke to independent governance trust

Anthropic said Thursday it appointed former Federal Reserve Chair Ben Bernanke to its Long-Term Benefit Trust, adding a senior economic policymaker to the independent body that advises the artificial intelligence company and appoints its board members. The move comes as Anthropic is valued at $965 billion and is preparing for a possible initial public offering that could occur as soon as this year, CNBC reported.

The Long-Term Benefit Trust is part of Anthropic’s governance structure. According to the company, the trust gives a separate group of trustees a formal role in oversight by advising Anthropic and selecting members of its board.

Bernanke will help Anthropic assess how artificial intelligence is reshaping the economy, the company said in a blog post announcing the appointment. His addition brings monetary policy, crisis-management and economic research experience into a governance body designed to consider long-term effects of AI development.

Bernanke chaired the Federal Reserve from 2006 to 2014, succeeding Alan Greenspan. His tenure included the 2008 financial crisis, during which the central bank adopted zero interest rates and quantitative easing, policies that expanded the Fed’s balance sheet through large-scale asset purchases.

After leaving the central bank, Bernanke held roles at institutions including the Brookings Institution, Citadel and Pimco. He received the Nobel Prize in economics in 2022 for research into the causes of the Great Depression.

“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 released by the company. “I am honored to have this opportunity, and I will try to contribute in any way I can to this critical mission.”

Anthropic was founded in 2021 by researchers and executives who left OpenAI. The company has become one of the most closely watched private AI developers as investors and policymakers scrutinize the economic, labor-market and security implications of advanced AI systems.

Bernanke is the fourth member of the Long-Term Benefit Trust. He joins Neil Buddy Shah, chief executive of the Clinton Health Access Initiative; Richard Fontaine, a national security specialist; and Mariano-Florentino Cuéllar, an international affairs expert appointed by Anthropic in January.

Anthropic said trustees do not own equity in the company and are compensated only for their time and service. New trustees are chosen by existing members of the trust in consultation with Anthropic, the company said.

This story draws on original reporting from CNBC.