The heat ($H$) generated in a conductor by current ($I$) is given by $H = I^2 R t$. Since the temperature rise ($\Delta T$) is proportional to the heat ($H$), we have $\Delta T \propto H$. Therefore, $\Delta T \propto I^2$.
Initial Condition:
For a current $I$, the temperature rise is $\Delta T_1 = 0.5^\circ \text{C}$.
Scenario 1: Current is $\sqrt{2} I$
If the new current is $I' = \sqrt{2} I$, then $\left( \frac{I'}{I} \right)^2 = 2$.
The new temperature rise, $\Delta T_2$, would be $0.5 \cdot 2 = 1.0^\circ \text{C}$.
Scenario 2: Current is $2I$
However, the problem states the current is "2I".
The new temperature rise is calculated as $\Delta T_2 = 0.5 \cdot (2)^2 = 0.5 \cdot 4 = 2.0^\circ \text{C}$.
The final temperature rise is $\boxed{\Delta T = 2.0^\circ \text{C}}$.