Nobel Prize 2025: Is AI's rise on this year's award?

Copyright © HT Digital Streams Limit all rights reserved. This year’s Nobel is a nod to the role of innovation and creative destruction in an economy: Think of the Nobel Foundation that on Monday awarded the Severiges Riksbank Prize in Economic Sciences to a Trio, Joel Mokyr, Philippe Aghion and Peter Howitt. (via Reuters) Summary The 2025 Economics Nobel was won by a trio of professors who studied the role of innovation in the growth of growth. Often this involves creative destruction. In the midst of a paradigm shift driven by AI, we must carefully weigh the ‘creative’ and ‘destructive’ aspects – and never take growth for granted. Over the past two centuries, the world has seen sustained economic growth that has increased large numbers from poverty. How much has technology contributed to this remarkable achievement? According to the Nobel Prize Committee. In recognition of the role of technology in the creation of new products and production methods, the replacement of old ones in a never-ending cycle, which provides the ‘basis for sustained economic growth’, which led to a better standard of living, health and quality of life for people around the world, “the Nobel Foundation on Monday this year. Mokyr, Philippe Aghion and Peter Howitt won for academic work that explains how innovation progresses. Often rare before the industrial revolution, which made it difficult to build on new discoveries and inventions. Brown University, USA. Innovations often lead to exactly that. Otherwise, innovation will be blocked by established enterprises and interest groups that are at risk of getting to a disadvantage. ” LIGHT, we see it not only in the field of trade, but in all aspects of our lives. weighed. As with other powerful technologies (thinking of nuclear power), where we are taking it on how we use it. destruction, maintain, so we don’t fall into stagnation again. ‘ Growth is not on automatic pilot.