Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.
Governments, businesses, and economists have all been caught off guard by the geopolitical shifts that happened with the crash of oil prices and the slowdown of China’s economy. Most believe that the price of oil will recover and that China will continue its rise. They are mistaken. Instead of worrying about the rise of China, we need to fear its fall; and while oil prices may oscillate over the next four or five years, the fossil-fuel industry is headed the way of the dinosaur. The global balance of power will shift as a result.
LED light bulbs, improved heating and cooling systems, and software systems in automobiles have gradually been increasing fuel efficiency over the past decades. But the big shock to the energy industry came with fracking, a new set of techniques and technologies for extracting more hydrocarbons from the ground. Though there are concerns about environmental damage, these increased the outputs of oil and gas, caused the usurpation of old-line coal-fired power plants, and dramatically reduced America’s dependence on foreign oil.
The next shock will come from clean energy. Solar and wind are now advancing on exponential curves. Every two years, for example, solar installation rates are doubling, and photovoltaic-module costs are falling by about 20 percent. Even without the subsidies that governments are phasing out, present costs of solar installations will, by 2022, halve, reducing returns on investments in homes, nationwide, to less than four years. By 2030, solar power will be able to provide 100 percent of today’s energy needs; by 2035, it will seem almost free — just as cell-phone calls are today.
A Chinese company building a massive animal cloning facility doesn’t want to limit itself to just replicating cattle and pets but hopes to move into the human cloning business in the future. The company, Boyalife Group, possesses the technology to do so, its CEO, Xiaochun Xo, told AFP, but to date has been “self-restrained” because it fears public backlash.
A Chinese company is claiming it has the technology to clone humans but is holding off because it says the public isn’t ready. That’s likely true, experts say, and it’s not likely to change because there isn’t a powerful enough medical reason that could swing public opinion.
Microelectromechanical systems—or MEMS—were a $12 billion business in 2014. But that market is dominated by just a handful of devices, such as the accelerometers that reorient the screens of most smartphones.
That’s because manufacturing MEMS has traditionally required sophisticated semiconductor fabrication facilities, which cost tens of millions of dollars to build. Potentially useful MEMS have languished in development because they don’t have markets large enough to justify the initial capital investment in production.
Two recent papers from researchers at MIT’s Microsystems Technologies Laboratories offer hope that that might change. In one, the researchers show that a MEMS-based gas sensor manufactured with a desktop device performs at least as well as commercial sensors built at conventional production facilities.
Robots and artificial intelligence (AI) will dominate legal practice within 15 years, perhaps leading to the “structural collapse” of law firms, a report predicting the shape of the legal market has envisaged.
Civilisation 2030: The near future for law firms, by Jomati Consultants, foresees a world in which population growth is actually slowing, with “peak humanity” occurring as early as 2055, and ageing populations bringing a growth in demand for legal work on issues affecting older people.
This could mean more advice needed by healthcare and specialist construction companies on the building and financing of hospitals, and on pension investment businesses, as well as financial and regulatory work around the demographic changes to come; more age-related litigation, IP battles between pharmaceutical companies, and around so-called “geriatric-tech” related IP.
“Plenty of forward-thinking companies have innovation divisions that try and predict the future, disrupt old models, and develop cutting-edge products. They don’t nest those divisions inside their human resources departments. So why shouldn’t gender diversity efforts be a part of corporate innovation?”
