Technology has changed drastically in just the past decade and continues to evolve at amazing speed. In a new research piece from Merrill Lynch’s well-respected chief investment strategist Michael Harnett, he and his staff point out that the world, and especially the U.S., has entered a period of what they call “accelerated innovation.” The Merrill Lynch team cites three huge driving forces of the current hyperinnovation: the Internet of Things, what they term as the “sharing economy,” and online services. We look forward to technology making things easier to do, less uncertain, lower priced and, most of all, less time-consuming. 24/7 Wall St. screened the Merrill Lynch list for some of the more interesting and thought-provoking nuggets. Here are 10 reasons why everything in the world is about to change: Growth in tech and biotech has been so huge here at home that the market cap of U.S. tech and biotech companies exceeds the market cap of ALL the companies in emerging markets and the eurozone. Solar power has been so improved and refined that the Solar Impulse 2, a plane that is powered totally by the sun, recently completed the sixth leg of a global circumnavigation. Traveling around the world with no fossil fuel is indeed remarkable. Above, the Solar Impulse 2 leaves Abu Dhabi, U.A.E. in March. The plane is equipped with 17,000 solar cells, has a wingspan of 72 meters, and yet weighs just over 2 tons. Tesla founder and CEO Elon Musk has said repeatedly recently that “autonomous driving” is almost a solved problem. He estimates by 2023 it will be a reality. Plain and simple, humans driving cars as we know is all too dangerous. See related story: . Above, a Mercedes-Benz F 015 autonomous driving automobile is displayed at the 2015 International Consumer Electronics Show Jan. 5 in Las Vegas. Chinese scientists recently genetically modified a gene in the human embryo. Think of the possibility of eliminating prenatal conditions. Above, a woman views an embryo specimen during the “Human Body's Wonder Scientific Travelling Exhibition” in China in 2007. A vaccine for malaria, one of the world’s most lethal diseases, has been found effective in infants and young children. In 2013 there were 198 million cases of the disease. Can actual cancer cures be all that far away? Above, actors campaign against malaria disease in Nigeria. A humanoid robot receptionist actually greets people now at a department store located in Tokyo. The robot, above, is called 'Aiko Chihira' and works at the information reception desk of Mitsukoshi department store. Developed by Toshiba Corp and code named ChihiraAica, the female humanoid is dressed in a Japanese kimono and helps to give directions and information to shoppers. Dubai is planning to introduce “robocops” in the next two years. The intent is to offer citizens better services without having to hire more people. Above, Emerati police officers sit inside their Mercedes-Benz Brabus four-wheel drive supercar during the Dubai Airshow in 2013. The price of money is a cheap as it has ever been, due to central bank action globally. There have been 572 interest rate cuts recorded since Lehman Brothers crash in the fall of 2008 started the Great Recession and market selloff. It took 5,500 days for the Nasdaq to retrace to the highs that were hit in March of 2000. Yet as we pointed out earlier, technology now is light years ahead of where it was then. This incredibly rapid innovation and change could very well set in motion huge patterns of profound societal and economic change everywhere. The Merrill Lynch team pointed out that technology is disrupting everything. They note that the U.S. has become the world’s largest oil producer, despite the fact that we only have a reported 2.6% of the world’s reserves. The Large Hadron Collider (LHC) in Europe is searching for a subatomic sign of supersymmetry. The LHC is the largest single machine in the world. Physicists hope the LHC will provide not only the answers to some open physics questions, but the deep structure of space and time. Above, a visitor stands in front of an image of the LHC at the Science Museum's 'Collider' exhibition in London in 2013. Solar and wind power will revolutionize power production. Robotics is poised to accelerate. Huge leaps in medical advances are increasing longevity. E-commerce may not be too far from being e-everything. While at the end of the day, change can be frightening to some, and difficult for others who may be replaced, the fact of the matter is it is here and it is moving at speeds we almost do not realize. Source
