Reconnecting technological development with human welfare

• New technologies like bio-, nano- and information are seen as converging.
• We examine their impact in three sectors: transport, health and agriculture.
• We argue technologies should be evaluated on their contribution to human welfare.
• We find new technologies often addressed the wrong question in these sectors.
• Also, new technologies are usually more expensive than alternative approaches.

Many observers see advances in technology as the key means for ensuring continued economic growth, and with it human progress as well. In particular, three modern technologies—biotechnology, information technology (sometimes including robotics and cognitive technologies) and nanotechnology—are seen by some researchers as converging and thus bringing about unprecedented benefits for humanity in the coming decades. The aim of this paper is to answer the question: can the on-going rapid advances in these new technologies lead to a better future for all? By examining three important sectors—transport, health/medicine, and agriculture/food—we show that application of these technologies are either largely irrelevant, too expensive, or too risky to meet the future needs of all humans in these sectors.