Bank of America releases list of 14 future technologies

Bank of America strategists have released a new list of what they call tech "moonshot" to help guide investors in their search for the next Amazon or Apple.

According to strategists led by Haim Israel, head of global thematic investment research at Bank of America, from sixth-generation telecommunications networks, which can download the entire New York Public Library collection in 20 seconds, to wireless power, the things that can fundamentally change people's lives will not as far as we think.

Here is a list of potential future technologies:

• 6G telecom network

• Emotional AI

• Brain-computer interface

• Bionics

• Immortality

• Synthetic Biology

• Wireless power

• Hologram

• Metaverse

• Electric vertical take-off and landing vehicle

• Ocean Technology

• Next-generation batteries

• Green mining

• Carbon capture and storage

These new technologies have the potential to transform and disrupt multiple industries, contributing to the next big cycle of technology growth. At the same time, incumbents are being replaced at a faster rate due to the acceleration of innovation. Taking the lifespan of companies in the S&P 500 as an example, in 1958, the average lifespan of a company was 61 years, according to Bank of America data. By 2016, that period was shortened to 24 years, and is expected to be halved to 12 years by 2027.

"Failure to discover tomorrow's technology today could mean missing out on the next big revolution," Israel wrote in a note to clients. He pointed out that the adoption of many technologies, such as smartphones or renewable energy, has exceeded experts' predictions by decades, because we often think linearly, but the related progress is increasing exponentially.