This year's Nobel Prize winners in economics show the influence of institutions on a country's prosperity. The three prizewinners have close ties to the University of Zurich, as UBS Foundation Professors David Hémous and Florian Scheuer outline in their article for 'Die Volkswirtschaft', an economic policy magazine by the Swiss State Secretariat for Economic Affairs (SECO).

On October 31, 2024, the UBS Center Forum for Economic Dialogue gathered a significant audience to hear insights from leading experts on the role of AI in our society. Despite intense discussions about the risks and misuse of AI, the overall assessment of the new technology was positive. With the right foundations in place, AI holds immense potential to drive innovation, increase prosperity, and reduce inequality.

Over the years, digitalization has led to the axing of many lower-skilled jobs, thereby polarizing the employment market. But AI could enhance some of the simpler jobs and reduce inequality.