The last decade has been one of tremendous advancement globally in business innovations. Uber was unheard of a decade back, while a stateless digital currency has now become the darling of investor. Artificial intelligence (AI) can now even power self-driving cars. Data warehousing has advanced so much that a single mobile phone now contains more information than an entire building of 1970s computers would. However, closer introspection suggests that while the pace of innovation has been tremendous, the fruits have not percolated evenly in society. Primary research has become more expensive and complex. That is why instead of single scientists or small groups, there are now large teams working together on solving complex problems using expensive equipment. GDP growth and productivity rates have also gone down. One filed where rapid improvement has taken place is genome editing using the online tool called Crispr. The search continues for the next great American idea that will propel society further ahead.

Source:http://amp.timeinc.net/fortune/2017/12/15/innovation-spending-economic-growth?__twitter_impression=true

Uploaded Date:19 January 2018