Technology brings hope to the recession

Many of us may be faced with the realities of an economic downturn and challenged to remain productive and positive in an environment that says otherwise. However as the great George Bernard Shaw once remarked, “If all of the economists were laid end to end they would not reach a conclusion.”

While it may be a fact that the American economy is experiencing difficult financial hardships and the new Obama Administration is working around the clock to develop strategies to lead the economy out of a recession, some observers see opportunity where many others see a crisis. Over the course of history some of the greatest improvements in our society followed major historic, often devastating events. The creation of new products and ideas is what drives our country and fuels our growth and global competitive edge. Technology, in particular, has gained prestige as the main industry focused on constant innovation and progressive thinking.

In Damian Joseph’s article ‘Innovations of the Future’ he asks futurists to identify upcoming inventions for the next 10 years, some of which included “On-Demand Entertainment, Miniaturized Medical Equipment, Body Power, and Next Generation Bio-Fuels.” An upcoming emerging trend for technology innovation is different industry sectors partnering together to produce an efficient, well-designed product. For example, technology is combining with the medical field to create new medical tools that will enhance healthcare services leading to less invasive procedures, minimized side-effects from drug therapy and surgical procedures, and advanced detection and treatment of some of the most deadly diseases affecting millions of people.

Technology is also combining with energy conserving fields that Damian reports on such as “Hydropower, Body Power, and Reformed Urban Transit Systems.” Seeing the success Europe has had with their shared commute resources such as trains, buses, and bicycles, the United States can look towards implementing similar environmentally friendly transportation options.

With advanced technology, the future holds many possibilities such as our cars to running on electricity, energy to be captured from the ocean to power our electricity, and using body heat to charge batteries. The current economic state may not be a comfortable one but it is not inhibiting innovative thinking from our researchers across the globe. Improvements in technology simultaneously improve outside industry sectors and lead to economic growth. Technology is constantly changing the way we live our lives, and with the critical need for change, technology is an industry that promises a future.