Emotional AI, ‘moonshot’ technologies forecast at $6 trillion by 2030
Imagine being an early investor to Apple, or Amazon.com, and sitting on a fortune. Ahhh.
But a failure to identify future technology right now could mean missing out on the next big thing, says our call of the day from a team of Bank of America strategists led by Haim Israel, which highlights 14 potentially lucrative new technologies that represent a $330 billion market now that could be worth $6 trillion by the next decade.
“The pace at which themes are transforming businesses is blistering, but the adoption of many technologies — like smartphones or renewable energy — have surpassed experts’ forecasts by decades, because we often think linearly but progress occurs exponentially,” say the strategists. They say a paradigm shift in the explosion of data, faster processing power and the rise of artificial intelligence will bring about the “fastest rollout of disruptive tech in history.”
And in the big stock universe, an increasing few are showing investors the money. “Over the past 30 years, just 1.5% of companies generated all the net wealth on the global stock market, meaning that actually only a handful of disrupters (“superstar firms”) really influence long-term financial markets,” says Israel and the team.
Here are the 14 technologies: 6G, brain computer interfacing (BCI), emotional artificial intelligence, synthetic biology, immortality, bionic humans, eVTOL (electrical vertical takeoff and landing vehicles), wireless electricity, holograms, metaverse, next-gen batteries, oceantech (ocean energy, precision fishing, etc.), green mining and CCS (negative-emissions technology that captures and stores carbon dioxide before it can be released).
This table gives a rundown:
Source: Bank of America
As for the sectors, they say telecoms would be a beneficiary of 6G, new media and entertainment of metaverse and holograms, and big tech platforms are “pioneers in multiple moonshot technologies,” such as emotional AI, brain computer interfaces, bionic humans, and more. E-commerce and retailing are beneficiaries of metaverse tech, while under real estate, data centers and telecom towers would be beneficiaries of 6G creation.
The vast healthcare sector, biopharma, biotech, life sciences, medical technology, are obvious beneficiaries of several moonshot technologies, along with information technology, while metals and mining would benefit from green mining, next-gen batteries and oceantech, with chemicals poised to benefit from synthetic biology and next-gen batteries.
Here’s one last massive chart from Bank of America that shows how those new technologies may change our lives.
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