Advancements in artificial intelligence (AI) and data collection are on the rise, but human innovation is not keeping up. According to Viktor Mayer-Schönberger, an information science professor at Oxford University, AI is not currently able to compete with human creativity because it is trained on past data rather than being able to imagine new things. While AI can analyze massive datasets and make insights more accessible, it lacks the ability to invent anything new. This poses a problem when the present or future differs significantly from the past, as AI cannot provide the right solutions. Despite the rapid advancements in AI, the pace of innovation has paradoxically slowed down, especially in the face of challenges such as climate change.

Researchers attribute this slowdown to insufficient competition between leading companies, as knowledge is not shared adequately, stifling latecomers from learning and growing. Data is the driving force behind modern innovation, and major digital companies like Google, Amazon, and Facebook collect vast amounts of data, hindering progress by hoarding it. The dominance of these companies and the trend of innovative startups being acquired by them reinforces oligopoly structures and presents a systemic risk to economic growth. To resolve this, policymakers need to ensure that data is more freely accessible. Additionally, restructuring education systems to encourage purposeful dreaming and cultivating mavericks rather than diligent conformists is crucial for fostering innovation.