The Technology Ahead
Powerful and innovative technology is set to become a bigger
part of our lives—including robotics, genomic advances, and
seamless device connectivity.
evelopments today are helping to push some nascent technologies into mainstream applications that likely will create entirely new businesses and services—and change our behavior and lifestyles. Increased computing power is enabling robots to become more sophisticated, helping scientists learn more about our genetic code. Consider our connectivity with the Internet and the exponential growth of mobile devices and social networks: The next phase will be an "Internet of Things" that connects us to machines or objects through embedded sensors. Computing power and rapidly falling costs are leading to advances in genomics that may revolutionize the diagnosis and treatment of disease. Consulting firm McKinsey & Company estimates that a dozen emerging technologies collectively could have global economic and social impacts ranging between $14 trillion and $33 trillion a year by 2025—and yield benefits such as improved products, lower prices, and better health.
Sources: McKinsey & Company, Report: Disruptive Technologies, 2013; T. Rowe Price; University of Pennsylvania, GRAPS Laboratory.