Innovation

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Innovation is the translation of ideas into products or services that can make the world a better place, such as artificial intelligence and quantum computing. It must not only provide value to society and change the old ways of doing things for the better, but must also be economically scalable, in order to be replicated and implemented worldwide. Throughout human history, several important innovations have dramatically steered the direction of civilization. However, in the past century innovation has accelerated, as the internal combustion engine (ICE), the transistor, the Internet and the smartphone completely put mankind on an exponential innovation curve. Futurist Ray Kurzweil suggests that the progress of the entire 20th century would have been achieved in only 20 years at the rate of advancement in the year 2000—in other words, by 2000, the rate of progress was five times faster than the average rate of progress during the 20th century.
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