Innovation Insights Quarterly: Q1

In this Innovation Insights, we highlight five advancements that we found interesting this quarter. From the next frontiers of farming and soft robotics to AI-powered weather reports, each breakthrough signifies another step forward for society. As these novel technologies and products continue to play increasingly significant roles in our everyday lives, the economic impact of innovation cannot be understated.  

The sound of a new era in medicine

Focused ultrasound (FUS) technology uses ultrasonic energy to target deep tissue without incisions or radiation. FUS works by focusing multiple beams of energy on a specific point, creating heat or mechanical effects that can alter the tissue. It has the potential to transform the treatment of many medical disorders, particularly cancer and neurological diseases. FUS has several advantages over conventional therapies, including its noninvasive nature, targeted approach, repeatability and cost-effectiveness.¹

Why it matters: FUS is the latest medical technology that is undergoing a renaissance era. Although it has been studied since the mid-20th century, focused ultrasound technology’s true potential is only beginning to be unlocked. Though currently approved for treating essential tremor, Parkinson’s disease, uterine fibroids, bone metastases and prostate cancer in the United States, FUS’s uses are even farther-reaching as it continues to be investigated as a treatment method for over 170 diseases worldwide.²

How to grow up: The benefits of vertical farming

Vertical farming, the practice of growing crops in vertically stacked layers in a controlled environment, aims to address the accumulating concerns in the agriculture sector. By fusing traditional farming practices with the latest vertical farming technologies, vertical farms are sustainably achieving near-zero waste. Vertical farms are unique in the way that they use robots to collect and assess relevant data throughout production, grow without pesticides or genetically modified organisms (GMOs), allow farmers to work in more ergonomic positions, and utilize circular water filtration systems to reduce waste.

Why it matters: It has been estimated that climate change could drive losses of US$5 billion in crop agriculture value each year by the mid-century.³ While there is a high entry cost into the world of agricultural technology, the appeal of these solutions is rapidly growing—with the promise of long-term reduction of chemical usage, labor and fossil fuels while increasing yields. 

AI, the ultimate weatherman

Artificial intelligence (AI) has major applications in weather forecasting, like generating faster and more accurate predictions. Traditional methods often take hours to complete predictions as they process multiple variables using mathematical equations and chunky supercomputers. AI models can accurately analyze variables simultaneously (in seconds) using deep neural networks and pattern recognition across historical data. One newly-developed AI model beat the current gold-standard meteorological system across over 90% of the 1,380 key metrics measured.⁴

Why it matters: AI models utilize desktops to produce data 1,000 to 10,000 times faster than conventional weather prediction models, reducing the financial and energy costs associated with weather forecasting.⁵ Today, AI-based forecasting is used conjunctively to complement and enhance our forecasting abilities. In the future, we may see AI-based forecasts work with other forms of AI; for example, communities may rely on AI-driven alert systems to notify them ahead of extreme weather events.⁶

The future of additive manufacturing

A team of researchers has developed a new technique of 3-D printing termed vision-controlled jetting (VCJ) that can fabricate objects using elastic materials.⁷ VCJ technology uses a 3D vision system to scan each layer and create a depth map of the object being printed. Each pass under the inkjets can then compensate for imperfections from the previous layer, a process that unlocks the use of more flexible materials.

Why it matters: Today’s 3-D inkjet printing can be imprecise, requiring mechanical planarization—a method to smooth out any imperfections that may arise. This limits the production materials to more rigid, fast-drying substrates. VCJ eliminates the need for smoothing, unlocking more flexible end-products such as artificial tendons. Researchers utilizing VCJ have even built a functional model of a mammalian heart employing one-way valves, internal sensors, and pumping membranes.⁸ In addition to having major applications in the medical industry, VCJ is foundational to the development of flexible technology, putting us one step closer to an automated world.

Vacuuming the sky

Mitigating climate change may be the most pressing challenge of the 21st century, and meeting that challenge requires removing carbon dioxide directly from the atmosphere. One promising method is direct air capture (DAC), which utilizes chemical reactions to extract carbon from ambient air and store it for repurposing. DAC promises to not only offset current emissions, but to counteract historical emissions as well. There are currently 15 carbon-capture plants worldwide that extract a combined 9,000 tons of CO2 per year, with plans in progress for an additional 30 facilities.⁹

Why it matters: When discussing climate change reversal efforts, we must consider how far we have come rather than how far we have to go. The world’s largest DAC facility captures 4,000 tons of carbon dioxide from the air every year—equivalent to the absorption capability of 165,000 trees.¹⁰ While DAC technology might not be a silver bullet, it is a complementary solution that can help close the gap between current emissions and net-zero targets.

There are also risks in investing in this or any asset class. The initial potential of any asset class may not carry over to any specific company or the entire asset class chosen for investment, over any investment time period. Any of the investment assumptions may never come to fruition. Investors should be prepared for potential losses as well as the possibility of investment gains. Ideas, products, companies or entire asset classes with positive past performance are not indicative of future results.