Vienna Institute for Global Studies (VIGS) launched its first “Next 25 Global Talks Series” event with a keynote lecture by Prof. Dr. Zoltan Acs, Director of VIGS, a leading economist known as the “Godfather of Entrepreneurship.”
The event, titled “Europe and the Future of the Digital Platform Economy,” explored the historical foundations of globalisation, the evolution of digital platforms, and the transformative role of artificial intelligence in shaping the global economy.
Dr. Acs argued that understanding the future requires understanding the past. Tracing the evolution of globalisation from early trade networks to the modern digital era, he explained how each technological revolution created new economic structures and organisational forms. According to Prof. Dr. Acs, the defining institution of the 21st century is no longer the factory or corporation, but the digital platform.
A major focus of the discussion was the role of entrepreneurship in technological progress. Prof. Dr. Acs emphasised that breakthrough innovations are often driven not by established industrial firms, but by new entrepreneurial ventures capable of transforming emerging technologies into scalable businesses.
“The defining organisation of the 21st century is the platform economy. The future will belong to societies that successfully combine entrepreneurship, technology, and human well-being,” said Prof. Dr. Acs during the discussion.
The lecture also examined Europe’s position within the digital platform economy. Prof. Dr. Acs noted that while Europe possesses strong institutions and talent, it continues to face challenges in scaling startups into globally dominant technology companies compared with the United States and Asia. He highlighted the importance of fostering entrepreneurial ecosystems, improving digital infrastructure, and creating policies that balance innovation with privacy, security, and fair competition.
Looking ahead, Prof. Dr. Acs identified artificial intelligence as the defining technological force of the coming decades. He pointed to the rapid rise of AI-driven companies and the growing concentration of innovation in global urban hubs. At the same time, he stressed that humanity faces a critical challenge: ensuring that technological progress advances human well-being and societal stability.
The event concluded with a lively audience discussion on topics including Africa’s technological development, the limitations of the Metaverse, AI-driven job displacement, universal basic income, and the need for human wisdom in navigating rapid technological change.
