Nobel Laureate in Economic Sciences Peter Howitt: The Most Important Choice for the Future Is Not the "Safest Job"

Asia University President Jeffrey J. P. Tsai (second from right) attends the 2026 Master Forum and takes a group photo with Nobel Laureate Peter Howitt (third from left) and other distinguished guests.

The 2026 Master Forum opened today at the Taipei International Convention Center, featuring Professor Peter Howitt, 2025 Nobel Laureate in Economic Sciences and a leading scholar in modern growth theory, who was invited to engage in a world-class dialogue with students and faculty from Asia University.

Asia University President Jeffrey J. P. Tsai led a delegation composed of international and local students from India, Indonesia, Vietnam, Mongolia, Eswatini, and Taiwan, as well as students from Asia University’s strategic alliance high schools. Together, they engaged in an English-language discussion on "creative destruction" and social equity in the age of AI.

The forum not only demonstrated Asia University’s strong commitment to internationalizing higher education, but also offered young students in Taiwan a valuable opportunity to connect directly with a world-renowned scholar and envision the future.

The forum centered on the theme "Creative Destruction and Economic Growth." In his keynote speech, Professor Howitt analyzed how technological innovation drives economic growth, as well as the challenges facing global industries and talent structures in the AI era. Following the lecture, Asia University students and faculty joined Professor Howitt in a nearly one-hour discussion, with student questions spanning AI, education, semiconductors, financial markets, entrepreneurship, innovation, and social equity.

Asia University President Jeffrey J. P. Tsai (left) presents a commemorative gift to Nobel Laureate Peter Howitt (right), expressing appreciation for his visit and exchange.

At the beginning of the dialogue, President Tsai noted that the world is now facing a new revolution brought about by AI. “It is the worst of times, and also the best of times,” he said. He pointed out that AI may indeed replace certain jobs, as seen in recent layoffs at major technology companies such as Google and Meta. At the same time, however, AI is also rapidly driving scientific breakthroughs and industrial transformation.

President Tsai cited the 2024 Nobel Prize winners in Physics and Chemistry as examples, noting that both had used AI to solve complex scientific problems. He also mentioned NVIDIA CEO Jensen Huang’s observation that an IC design task that once required eight engineers and ten months to complete can now be accomplished by AI overnight.

In response to the AI wave, President Tsai said, Asia University has actively promoted reforms in general education, introducing courses such as "X + AI,” “AI + X," and "AI + Social and Emotional Learning (SEL)." The goal is not only to teach students how to use AI, but also to cultivate core competencies that cannot easily be replaced by AI, including empathy, creativity, interdisciplinary integration, and humanistic critical thinking.

The participating students came from India, Indonesia, Vietnam, Mongolia, Africa, and Taiwan, reflecting Asia University’s international campus environment. Several students drew on Professor Howitt’s theory of creative destruction and research on human capital to raise thoughtful questions about industrial transformation brought about by AI.

Ankita, a doctoral student from India in the Department of Business Administration, asked how governments should formulate policies that balance innovation and governance when AI develops faster than regulations. Professor Howitt responded that legal and regulatory systems often react slowly, while AI technology advances rapidly. In the short term, he said, there may be no quick solution, and society will still depend heavily on the moral conscience and social responsibility of technology leaders.

Another Indian doctoral student, Suman, approached the issue from behavioral factors such as "trust," "perceived complexity," and "expectation confirmation," asking how AI may influence innovation-driven growth. Professor Howitt said that AI will ultimately strengthen human creativity and capabilities. He cited Bill Gates’ investment in using AI to improve healthcare efficiency in Africa, explaining that by automating routine tasks, medical workers can serve more patients, demonstrating AI’s tremendous potential for public welfare.

Asia University President Jeffrey J. P. Tsai (left) warmly meets Nobel Laureate Peter Howitt (right), engaging in an in-depth exchange on AI and the development of higher education.

On the balance between innovation and equity, Larry, a student from Asia University’s Department of Financial and Economic Law, asked how laws and institutions can balance economic efficiency, innovation, and fairness amid rapid technological change. Professor Howitt emphasized that the education sector bears a major responsibility. It should make good use of AI to help cultivate sound values, he said, while also acknowledging that the current education system remains "one of the least innovative sectors" and must undergo fundamental reform.

Facing the high barriers of competition in AI and semiconductors, Andrew, a Vietnamese graduate student in the Department of Finance, asked whether developing countries would find it even harder to catch up. Professor Howitt responded that, unlike the computer revolution of the past, which favored highly skilled workers, AI is more focused on automating routine cognitive tasks. As a result, it may actually help strengthen the capabilities of workers in developing countries. In the future, he said, countries can share AI knowledge and resources through international cooperation and technology alliances.

Many students were also concerned about whether AI will replace entry-level jobs. Floria, a master’s student in Accounting and Information Systems, asked how young people can build core abilities that AI cannot replace during the transition period when old jobs disappear but new positions are not yet mature. Professor Howitt said that claims by many technology companies that "entry-level jobs are disappearing" are often exaggerated. Companies still need employees to accumulate tacit knowledge through hands-on work, and this is something AI cannot fully replace.

Faye, a student from the Department of Finance, asked how the next generation of economists and entrepreneurs should balance the benefits of innovation with inequality and job displacement. Professor Howitt cited Denmark’s flexicurity system as an example, noting that governments in the future will need new tax and subsidy systems to ensure that more people can share the benefits brought by AI.

Questions from two high school students also became highlights of the discussion. Calvin from the Affiliated Senior High School of National Chung Hsing University asked whether the excessive concentration of wealth and resources among a small number of elites due to innovation could lead to populism and social dissatisfaction. Professor Howitt acknowledged that the concentration of innovation-driven gains may indeed produce anti-elite sentiment. Therefore, he said, governments must use wealth redistribution mechanisms, together with support from educational institutions, to give more people opportunities to share the benefits of technological progress.

Asia University President Jeffrey J. P. Tsai (left) and Nobel Laureate Peter Howitt (right) exchange views during the forum.

Vivi from National Changhua Girls’ Senior High School focused on how young people can accumulate the experience and judgment needed for the future when AI gradually replaces many learning and basic work tasks. Professor Howitt responded that large companies are unlikely to completely eliminate entry-level positions. However, universities must become more actively involved in vocational education and work with businesses to redesign curricula, allowing students to develop practical skills and tacit knowledge while still in school. He emphasized that cooperation among government, industry, and academia will be a crucial key to talent development in the AI era.

Hanif from Indonesia asked how society can prevent AI from becoming a tool used by large corporations to block competition and innovation. Professor Howitt stressed that governments must establish strong competition laws and antitrust policies focused on dynamic efficiency, preventing companies from using patent monopolies or mergers and acquisitions to suppress startup innovation. Using Eastman Kodak, the inventor of the digital camera, as an example, he noted that companies that resist the next wave of innovation will eventually be eliminated by the times.

Indonesian student Maria further asked whether creative destruction would slow down if companies use AI to protect their dominant positions rather than embrace disruption. Professor Howitt said that the real danger today lies in large companies obstructing innovation by new firms through "preemptive acquisitions" or the creation of "patent thickets." Therefore, he said, antitrust policy should pay greater attention to dynamic efficiency.

In addition, Minjin, a student from Mongolia, raised a question about whether AI could weaken the financial market’s ability to discover entrepreneurial opportunities. Professor Howitt responded that while AI can assist with general financial decision-making, the most crucial area—financing innovation—still requires a high degree of human judgment, including understanding technology, talent, and trust. This, he noted, remains one of the areas most difficult for AI to fully replace.

At the end of the dialogue, Dean Ming-Huei Chen of Asia University’s College of Management and Social Sciences invited Professor Howitt to offer advice to young people preparing to enter the workforce. Professor Howitt smiled and said that if he could choose when to be born, "I would choose now!"

He noted that although the future is full of uncertainty and disruption, it also means more opportunities and a richer economic life. He encouraged students not to choose a job simply because it "seems the safest," but instead to find what they truly love and devote themselves fully to it. He emphasized that AI will profoundly transform the future world and create many new occupations and opportunities that people today can hardly imagine.

"Your future," he said, “is actually very enviable.”

Shih Ting-en, a high school student from Asia University’s strategic alliance schools, raises a question about how young people can accumulate experience in the AI era.

Asia University President Jeffrey J. P. Tsai (left) and Nobel Laureate Peter Howitt (right) listen attentively to students’ questions.

Lin Chen-yu, a high school student from Asia University’s strategic alliance schools, asks Professor Howitt about wealth concentration and populism.

Ankita, an Indian doctoral student at Asia University, listens attentively as she prepares to ask Nobel Laureate Peter Howitt a question.

Suman, an Indian doctoral student at Asia University, offers insightful perspectives on the theory of creative destruction in his exchange with Professor Howitt.

Asia University President Jeffrey J. P. Tsai and Nobel Laureate Peter Howitt take a group photo with Asia University faculty and students who participated in the dialogue.