Using the Potential of Emerging Technologies for Human Welfare
Nanotechnology, Biotechnology, Information Technology and Cognitive Science Offer Huge Business Potential
How Do We Harness the Business Potential for Human Welfare?
Here is a preliminary look at the emerging technologies:
- Nanotechnology: Nanotechnology works at molecular/atomic levels where physical laws are somewhat different from those at normal sizes. At nano levels, forces that we observe in living molecules become more relevant. A Johnson & Johnson subsidiary has succeeded in wrapping a drug molecule in a shell made from other molecules, and delivers it where it is required in the body.
- Biotechnology: Modern biotechnology started with the understanding of DNA and development of tools to modify genetic structure. It was now possible to modify natural characteristics, such as pest or herbicide resistance in food crops. Another example is the creation of microorganisms that can degrade hazardous wastes.
- Information Technology: Information Technology involves using computing devices for doing things. Traditional IT enhanced productivity not only in business but also in social service activities such as healthcare and education. Internet, part of IT, has provided education, market access, enhanced business capability and social interactions to people in remote corners of the world.
- Cognitive Science: Cognitive science (study of mind and intelligence) has helped to integrate formerly disparate psychology fields such as development theory, behavior and personality. Practical applications include speech recognition programs, better methods of teaching reading and writing, and better treatments for anxiety and depression.
A Look at some current Emerging Technology Applications
- Carbon Nanotubes is a product of nanotechnology. It has been used in tennis rackets and bicycles. Bayer MaterialScience of Germany is working on nanotube-based membranes for seawater desalination that can produce fresh water. If this becomes a cost effective proposition, imagine the huge quantity of water that can become available for human consumption.
- Biotechnology is used intensively in new drugs development. Johnson & Johnson of US is investing in Elan Corp, a biopharmaceutical company in Ireland, to develop injectible drugs for controlling Alzheimer's disease, and a vaccine that prevents the buildup of plaque in brain, which leads to memory loss, among other problems. Considering the social burden of Alzheimer's and its impact on individual dignity, any remedy for the problem cannot but contribute to human welfare.
- Information technology is used practically everywhere and it is difficult to pick out any particular application to look at. The US tourist town of Manor reports posting 4 ftx4 ft images that act like bar codes at a number of tourist-interest spots. Visitors with camera phones snap a picture of the code, which is interpreted by a free downloadable program to show a Web page that provides information about that particular tourist attraction.
- Cognitive Science principles are typically used in improving learning. However, a report from US mentions about an 'all natural' energy 'Think Drink' developed on the basis of cognitive science findings about mood, memory and mind development.
Business Potential and Human Welfare
The huge business potential of the new technologies become evident when we look at the application examples. We can also see how they can contribute to human welfare. The issue is whether the benefits reach all those who need it, irrespective of their location or wealth. We begin a look at this issue in a separate article on businesses and social welfare.