Singapore recently hosted four top Nobel Laureates to explore global trends currently shaping the world.
In the first leg of its global Nobel Perspectives Live! event, Swiss bank UBS brought together four of the world's top Nobel Laureates in Economic Sciences.
Singapore's position as a technology, finance, and education centre made it the natural first port-of-call for the inaugural conference for the notable quartet.
Great Minds
Michael Spence of NYU Stern, Robert Merton of Massachusetts Institute of Technology and Harvard University, Roger B Myerson of the University of Chicago, and Peter A Diamond of the Massachusetts Institute of Technology held court in a forum attended by over a thousand local students.
Among the hottest topics at the forum was the rise of the machines and the pressure new technology was now putting on traditional jobs, including some in financial services.
Artificial Intelligence
Nobel Laureate Spence was of the view that artificial intelligence (AI) is an enabler, instead of something that could replace humans.
«AI as we understand it now is a tool, not a substitute. When we did empirical work before, we used to spend hours and hours just digging up data. Now we spend much less time digging up data and more time understanding it,» he said.
Size Matters
Amid the global uncertainty around technological disruption, Nobel Laureate Merton noted that Singapore's smaller size could be an asset.
Because of its small size, most individuals in the country feel that he or she is part of the society.
While Singapore's size also translates to flexibility and the ability to change, which are critical at a time when things are uncertain.
