The Impact of Convergent Technologies and the Future of Business And The Economy

James Canton, Institute for Global Futures

The convergence of nanotechnology, biotechnology, information technology, and cognitive science, which together is referred to here as "convergent technologies," will play a dominant role in shaping the future economy, society, and industrial infrastructure. According to the Commerce Department, over one third of GDP is contributed by information technology. This data would suggest that with new technology being introduced daily, the share of GDP driven by technology will increase. Emerging technologies, especially convergent technologies discussed here, are the engines of the future economy. The objective of enhancing human performance is vital to the well-being of individuals and to the future economic prosperity of the nation. The convergent technologies model has yet to be fully mapped. The convergence of nano, bio, and information technologies and cognitive science is in the embryonic stages of our understanding. We need to examine the factors driving convergent technologies and the possible impacts on business and the economy. There is a need to better prepare the nation, coordinate efforts, and work collaboratively towards a national initiative to focus our efforts. How we manage the realtime impact of radical innovation on the social and economic infrastructure of the United States will determine the future wealth, prosperity, and quality of life of the nation. This is no less important than the capacity of the United States to play a global leadership role via the leveraging of next-generation innovations like convergent technologies.

0 0

Post a comment