Is innovation being hindered by Big Tech firms and their AI tools? | Technology News

In a world where artificial intelligence (AI) is rapidly advancing, one expert believes that human creativity still reigns supreme when it comes to innovation. Viktor Mayer-Schönberger, a professor of information science at Oxford University, emphasizes the importance of imagination in the creative process.

According to Mayer-Schönberger, AI is limited by the fact that it is trained on past data, making it difficult for the technology to come up with truly novel ideas. While AI can analyze massive datasets and provide insights based on historical information, it lacks the ability to imagine things that do not yet exist.

In a recent interview with DW, Mayer-Schönberger highlighted the challenges posed by climate change as an example of the need for innovative solutions beyond what AI can currently offer. Despite the rapid advancements in AI, the pace of innovation has actually slowed down in recent years.

Economics professors Ufuk Akcigit and Sina T. Ates have observed a decline in productivity growth in the United States, attributing it to a lack of competition and knowledge sharing among leading companies. This trend has led to a decrease in innovation and a reinforcement of oligopoly structures in the market.

Mayer-Schönberger suggests that policymakers need to ensure that data is more freely accessible in order to foster innovation. He also calls for a restructuring of education systems to encourage the next generation to dream and think creatively.

In a world where data is increasingly valuable, it is essential to find a balance between innovation and competition to drive economic growth and progress. As Mayer-Schönberger aptly puts it, innovation requires “uncomfortable mavericks” who can see the world with different eyes and dream purposefully.