AI: Why destruction is a necessity for creation - explained by a Nobel laureate economist

Nobel laureate Peter Howitt is known for his work on ‘creative destruction’, a model of growth whereby innovation creates value but renders technologies and jobs obsolete in the process. Here, he explains why he believes ‘we’ll all be winners’ from AI - and why the doom-sayers of previous technologies were proven wrong. However, Howitt, a professor emeritus at Brown University, also explains why the government has a duty to help those whose jobs will be impacted. The World Economic Forum’s Technology Convergence Initiative has created a systems view of how frontier technologies interact through the 3Cs: combining, converging and compounding to produce breakthroughs. The latest Technology Convergence Playbook contains a toolkit that translates these insights into operational practice.