I think one of the biggest barriers to innovation the last couple decades is the fact that we really do not spend enough money on R&D and the sciences in particular. If you look at a long term innovation trend, it is easy to see we are far below the norm. This, of course, is only getting worse since we have an administration that decided to cut/eliminate anything pertaining to science including funding.
AI will be a game changer along with quantum computing. AI is growing by leaps and bounds; quantum is a decade away at least.
Great points brought up.
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Does government have to fund it or can't we fund it directly by crowdfund?
I am sure crowdfunding could be used to offset the loss of government research.
The problem is that much of the government's spending is on foundational research which doesnt result in anything but does push the ball down the field. It is rather easy to focus upon the last 1% when a company/individual takes existing research and alters it in a way that one has a marketable product. Completely overlooked is the other 99% that was forged by many individuals using dozens if not hundreds of government grants to get the research to the point where it could be turned into a viable product or service.
Part of the incredible explosion in breakthroughs over the years in the US was the research done upper levels educational system and smaller companies that were funded through the DOE or DOD. Sadly, these monies have repeatedly been cut over the years.
This is why I like ICOs, it does fund research.
Yes in this arena it does, without a doubt.
Sadly, this far, it hasnt entered the realms like biology and chemistry (although I am not too worried about chemistry because that is the first area that will go quantum).
AI certainly will help us make up the ground. There are breakthroughs everywhere. However, a bit more support would result in a faster time to the innovations reaching the market.