UPDATED MAY 2020 - This blog will appear monthly from now on. Today, all organizations depend on technological innovation in order to sustain their existence. Analysis of emerging technologies and identification of those technologies with the greatest potential is essential to being prepared for upcoming projects. The objective of this blog is to establish future oriented technology analysis and insights. This blog was established to provide program and project managers with information about these emerging technologies. These emerging technologies have far reaching repercussions for program and project managers. This blog will jump-start the learning process and allow program and project managers to become proactive.
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Biology + Math = BioInformatics
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| We are in the 4th Industrial Revolution (4th IR). Just as has been discussed on this blog before this continues to create the need for change. There are multiple technologies that are, and will contribute to the 4th IR. I am actively tracking 17 of them at this time. That being said, biotechnology is one of those technologies and it will play a transformative roll in the 4th IR and the information that is generated is where a substantial amount of value rests. Currently the top countries in terms of spending in biotechnology are the United States followed by Japan, Switzerland, France, Germany, and Denmark. It should be noted that China continues to increase its investment in biotechnology research and development. With all the potential that biotechnology is showing, we will continue to see increased investment by both the public and private sectors around the globe. All that means more biotech projects and that means assignment for PMs.
INSIGHT: There appears to be a considerable amount of public concern about some of the areas of biotechnology and the potential impact it could have on society. One recent conversation highlights this concern. Think about the implications of integrating 3D printing and genetic engineering (creating human cells). The combination of genetic engineering and 3D printing has brought public concern of the creation of replacement human parts. That is something to think about for sure.
Bioinformatics – it alone is estimated at growing at a double-digit compound annual growth rate (CAGR) to over $18 billion USD by 2025. Again, with that amount of growth, a number of bioinformatics programs and projects will need managed.
CAUTION: Analysis requires increased care as some place the biotechnology data under the umbrella term – Big Data while others break it out separately. Either way, some of that information is regulated!
Like all emerging technologies, Bioinformatics is in the basic and applied research stages and begun to enter the commercialization stage. Its robust growth brings with it the ever-nagging problem of finding properly skilled resources to write the software, analyze the data, build the products that support the acquisition of the data and so much more. A quick search of one job board find nearly 3,500 bioinformatic jobs listed. Another technology where subject matter experts are in short supply.
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Posted on: January 01, 2021 09:44 AM
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