The Stanford professor will provide economic advice to the consulting firm’s commercial AI division.
Alan M Garber has served as interim president of Harvard University since January.
The economist joined BOE’s monetary committee in September 2021 will now remain on it until Sept. 5 2027.
Their research specialisms range from applied economics to operations management.
Adrien Auclert, Julien Grenet and Alexandra Roulet have joined the 15-strong advisory body.
The microeconomist will take up the post on Jan. 1 next year.
Gopi Shah Goda takes over from economist Susan Athey on the panel, which advises Gov. Gavin Newsom.
Maya Rossin-Slater has been awarded the Elaine Bennett Research Prize for 2023.
Vig joins Stanford Graduate School of Business from Northwestern University, where he was a professor of finance.
The eight distinguished economists have made significant contributions within their fields.