Big Tech companies often claim to be working for the social good, and in some cases, are even registered as ‘public benefit corporations’. But this is a mirage of altruism that seeks to help them avoid regulation and grab power. Writes Pat De Brún and Damini Satija.

In 2021, major AI player Anthropic registered itself as a “public benefit corporation”. According to the company “our PBC structure is important in aligning Anthropic’s governance with our public benefit mission”.

It should come as no surprise that some of the biggest names in AI – including the likes of Anthropic and Inflection AI – are flirting with new corporate structures and promoting renewed efforts towards self-regulation. There is currently unprecedented demand for meaningful state-led regulation over Artificial Intelligence. From President Biden’s recent Executive Order on AI to the recent political agreement over the AI Act in Brussels, governments are waking up to both the threats and supposed economic opportunities presented by AI - and competing to position themselves as leaders in the space of AI regulation.