A diverse range of breakthrough technologies, including “artificial leaves” that turn CO2 into fuel, and a technique that harvests water from air, could soon be playing a role in tackling the world’s most pressing challenges.
The top 10 technologies to make this year’s list are:-
1. Liquid biopsies
Liquid biopsies mark a step forward in the fight against cancer. First, they are an alternative where traditional tissue-based biopsies are not possible. Second, they provide a full spectrum of information compared to tissue samples, which only reflect the information available in the sample. Lastly, by homing in on circulating-tumor DNA (ctDNA), genetic material that routinely finds its way from cancer cells into the bloodstream, disease progression or resistance to treatment can be spotted much faster than otherwise relying on symptoms or imaging.
2. Harvesting clean water from air
The ability to extract clean water from air is not new, however existing techniques require high moisture levels and a lot of electricity. This is changing. A team from MIT and University of California, Berkeley has successfully tested a process using porous crystals that convert the water using no energy at all. Another approach, by a start-up called Zero Mass Water from Arizona is able to produce 2-5 litres of water a day based on an off-grid solar system.
3. Deep learning for visual tasks
Computers are beginning to recognize images better than humans. Thanks to deep learning, an emerging field of artificial intelligence, computer-vision technologies are increasingly being used in applications as diverse as driving autonomous vehicles, medical diagnostics, damage assessment for insurance claims and monitoring of water levels and crop yield.
4. Liquid fuels from sunshine
Can we mimic the humble leaf to create an artificial photosynthesis to generate and store energy? The prospects are looking increasingly positive. The answer lies in using sunlight-activated catalysts to split water molecules into water and hydrogen, and then using the same hydrogen to convert CO2 into hydrocarbons. Such a closed system – wherein CO2 emitted by combustion is then transformed back into fuel instead of the atmosphere – could prove to be revolutionary for the solar and wind industries.
5. The Human Cell Atlas
An international collaboration aimed at deciphering the human body, called the Human Cell Atlas, was launched in October 2016. The project, backed by the Chan Zuckerberg Initiative aims to identify every cell type in every tissue; learn exactly which genes, proteins and other molecules are active in each type and the processes which control that activity; determine where the cells are located exactly; how the cells normally interact with one another, and what happens to the body’s functioning when genetic or other aspects of a cell undergo change, among other things. The end product will be an invaluable tool for improving and personalizing health care.
6. Precision farming
The Fourth Industrial Revolution is providing farmers with a new set of tools to boost crop yield and quality while reducing water and chemical use. Sensors, robots, GPS, mapping tools and data-analytics software are all being used to customize the care that plants need. While the prospect of using drones to capture plant health in real time may be some way off for most of the world’s farmers, low-tech techniques are coming online too. Salah Sukkarieh, of the University of Sydney, for instance, has demonstrated a streamlined, low-cost monitoring system in Indonesia that relies on solar power and cell phones.
7. Affordable catalysts for green vehicles
Progress is being made on a promising zero-emission technology, the hydrogen-fed fuel cell. Progress to date has been stymied by the high price of catalysts which contain platinum. However, much progress has been made reducing reliance on this rare and expensive metal, and the latest developments involve catalysts that include no platinum, or in some cases no metal at all.
8. Genomic vaccines
Vaccines based on genes are superior to more conventional ones in a number of ways. They are faster to manufacture for one thing, which is crucial at times of a violent outbreak. Compared to manufacturing proteins in cell culturesor eggs, producing genetic material should also be simpler and less expensive. A genomics-based approach to vaccines also enables more rapid adaptation in the event of a pathogen mutating, and finally allows scientists to identify people who are resistant to a pathogen, isolate the antibodies that provide that protection, and design a gene sequence that will induce a person’s cells to produce those antibodies.
9. Sustainable design of communities
Applying green construction to multiple buildings at once has the potential to revolutionize the amount of energy and water we consume. Sending locally-generated solar power to a smart microgrid could reduce electricity consumption by half and reduce carbon emissions to zero if a project currently under development at the University of California at Berkeley Goes to plan. Meanwhile, the same project’s plan to re-design water systems so that waste water from toilets and drains is treated and re-used on site, with rainwater diverted to toilets and washers, could cut demand for potable water by 70%.
10. Quantum computing
Quantum computers’ almost limitless potential has only ever been matched by the difficulty and cost of their construction. Which explains why today the small ones that have been built have not yet managed to exceed the power of supercomputers. But progress is being made and in 2016 the technology firm IBM provided the public access to the first quantum computer in the cloud. This has already led to more than 20 academic papers being published using the tool and today more than 50 start-ups and large corporations worldwide are focused on making quantum computing a reality. With such progress behind us, the word on people’s lips now is “Quantum Ready.”
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Petrol in India is cheaper than in countries like Hong Kong, Germany and the UK but costlier than in China, Brazil, Japan, the US, Russia, Pakistan and Sri Lanka, a Bank of Baroda Economics Research report showed.
Rising fuel prices in India have led to considerable debate on which government, state or central, should be lowering their taxes to keep prices under control.
The rise in fuel prices is mainly due to the global price of crude oil (raw material for making petrol and diesel) going up. Further, a stronger dollar has added to the cost of crude oil.
Amongst comparable countries (per capita wise), prices in India are higher than those in Vietnam, Kenya, Ukraine, Bangladesh, Nepal, Pakistan, Sri Lanka, and Venezuela. Countries that are major oil producers have much lower prices.
In the report, the Philippines has a comparable petrol price but has a per capita income higher than India by over 50 per cent.
Countries which have a lower per capita income like Kenya, Bangladesh, Nepal, Pakistan, and Venezuela have much lower prices of petrol and hence are impacted less than India.
“Therefore there is still a strong case for the government to consider lowering the taxes on fuel to protect the interest of the people,” the report argued.
India is the world’s third-biggest oil consuming and importing nation. It imports 85 per cent of its oil needs and so prices retail fuel at import parity rates.
With the global surge in energy prices, the cost of producing petrol, diesel and other petroleum products also went up for oil companies in India.
They raised petrol and diesel prices by Rs 10 a litre in just over a fortnight beginning March 22 but hit a pause button soon after as the move faced criticism and the opposition parties asked the government to cut taxes instead.
India imports most of its oil from a group of countries called the ‘OPEC +’ (i.e, Iran, Iraq, Saudi Arabia, Venezuela, Kuwait, United Arab Emirates, Russia, etc), which produces 40% of the world’s crude oil.
As they have the power to dictate fuel supply and prices, their decision of limiting the global supply reduces supply in India, thus raising prices
The government charges about 167% tax (excise) on petrol and 129% on diesel as compared to US (20%), UK (62%), Italy and Germany (65%).
The abominable excise duty is 2/3rd of the cost, and the base price, dealer commission and freight form the rest.
Here is an approximate break-up (in Rs):
a)Base Price | 39 |
b)Freight | 0.34 |
c) Price Charged to Dealers = (a+b) | 39.34 |
d) Excise Duty | 40.17 |
e) Dealer Commission | 4.68 |
f) VAT | 25.35 |
g) Retail Selling Price | 109.54 |
Looked closely, much of the cost of petrol and diesel is due to higher tax rate by govt, specifically excise duty.
So the question is why government is not reducing the prices ?
India, being a developing country, it does require gigantic amount of funding for its infrastructure projects as well as welfare schemes.
However, we as a society is yet to be tax-compliant. Many people evade the direct tax and that’s the reason why govt’s hands are tied. Govt. needs the money to fund various programs and at the same time it is not generating enough revenue from direct taxes.
That’s the reason why, govt is bumping up its revenue through higher indirect taxes such as GST or excise duty as in the case of petrol and diesel.
Direct taxes are progressive as it taxes according to an individuals’ income however indirect tax such as excise duty or GST are regressive in the sense that the poorest of the poor and richest of the rich have to pay the same amount.
Does not matter, if you are an auto-driver or owner of a Mercedes, end of the day both pay the same price for petrol/diesel-that’s why it is regressive in nature.
But unlike direct tax where tax evasion is rampant, indirect tax can not be evaded due to their very nature and as long as huge no of Indians keep evading direct taxes, indirect tax such as excise duty will be difficult for the govt to reduce, because it may reduce the revenue and hamper may programs of the govt.