Nobel Economist Warns AI Stock Boom May Be ‘Rational Bubble’
Speaking during the 56th annual World Economic Forum (WEF) in Davos, Switzerland, Howitt emphasized that Europe must find ways to concentrate more on pioneering innovation, as the region still lacks large-scale and transformative breakthroughs despite certain achievements.
“I think that requires perhaps a more flexible financial system than they currently have,” explained the Brown University professor.
He added, “One of the wonders of the US economy is their venture capital system is unrivaled in the world, (and) I think that Europe has the potential to do that, but it's going to require cooperation -- that’s always difficult in Europe.”
Howitt further highlighted that several American firms have chosen to expand into Europe, presenting a significant chance to strengthen innovation across the continent.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
