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Tech-Driven Job Growth

The Washington Post this week says advances in nanotechnology and synthetic biology, among other fields, may provide "a solution to the unemployment puzzle."

The World Economic Forum's Global Agenda Council on Emerging Technologies' Javier Garcia-Martinez and Sang Yup Lee write in the Post that "from nanotechnology to synthetic biology, these [emerging] technologies are beginning to show their potential in the lab if not already in the market whether in sun block, planes or sports equipment."

The authors add that advances in synthetic biology are sure to drive job growth, saying:

We can now develop new biological processes and organisms designed to serve specific purposes, including the conversion of renewable biomass to chemicals, fuels and materials, producing new therapeutic drugs, or protecting the body against infectious diseases. The biotech industry, already a worldwide job-creator, will greatly benefit from advances in synthetic biology, metabolic engineering, and modelling of complex biological systems.

Overall, though, technology development along is not enough. "Commercialization is key to creating new jobs," Garcia-Martinez and Lee write.

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