By Roland Hengerer and Martin Illsley To read offline:
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PDF Help Although it has long been considered a criticism to accuse someone of being "small-minded," in fact, that approach best describes a burgeoning opportunity today for technology-related businesses. And when we say small, we mean small. This is the field of nanotechnology, which has the potential to cause a revolutionary impact on products and manufacturing processes. Nanotechnology refers to the creation and use of materials, devices and systems through controlling matter at a scale so miniscule it is measured by a nanometer, which can measure objects as small as one-millionth of a millimeter, about the size of a small molecule. So how big is nanotechnology from a business perspective? A report published by the United Kingdom's Department of Trade and Industry states, "Any industry that fails to investigate the potential of nanotechnology, and to put in place its own strategy for dealing with it, is putting its business at risk." ¹ What are researchers learning to do at this scale—a scale at which they can actually manipulate single atoms? And why should business executives care? To give just a sense of the possibilities, scientists and engineers are experimenting with ways to "nanostructure" matter in such a way as to create industrial materials that are 100 times stronger than steel but just one-sixth its weight. Or consider the possible benefits of submicromechanical devices about the size of a virus that might probe and deliver medicine to individual cells. Researchers at Accenture Technology Labs are closely following nanotech developments to identify potential business opportunities and disruptions. At Accenture, we believe that it has become increasingly difficult for forward-thinking executives to separate fact from fantasy in this exciting field, and we are evaluating the most likely nanotechnology path. Whatever kind of services your company sells or products it makes, your business will be touched soon by nanotechnology innovations. Maybe it already has. Opportunity and Innovation at the Convergence of Disciplines The very term nanotechnology has come to be applied to just about anything that has to do with microscopic applications of technology. But size alone, though important, does not adequately describe the distinctive opportunities of nanotechnology. It is not merely about shrinking existing technologies and designs. In fact, scaling laws often require a complete redesign when changing the size of something. For example, the design that makes an albatross fly is nothing like the design that makes a bumblebee fly. So what does nanotechnology do? Where is its value? The business opportunities of nanotechnology are most likely rooted in a merger of life sciences, physical sciences and computer sciences. In other words, it is where biotechnology, engineering and information technology come together, combining biological principles with the designs and materials of modern engineering. Accenture believes that this overlap has created a common pool of innovation—such as the integration between materials and information technology—that already represents opportunity for some companies, and a threat or challenge to others. Accenture Technology Labs researchers are looking at three categories of nanotechnology applications. - Nanosystems. These small systems can be seen as an extension of biotechnology. For example, to create a molecular motor about the size of a virus, scientists have combined genetically engineered proteins with other chemically structured components. Researchers have even assembled a whole molecular transport system based on biomolecules. One day such devices will have powerful applications in medicine and many other industries.
- Nanomaterials. It is possible to create new kinds of materials by working at the nanolevel. One of the first nanomaterials was the "carbon nanotube," which conducts electricity better than copper yet is stronger and lighter than steel. Other nanomaterials show the possibility to precisely hand-tailor and control specific material parameters. Moreover, some of these nanomaterials behave in a way that we can refer to them as "smart materials," which includes self-healing polymers and other materials with the ability to react to changing conditions.
- Nano-electronics. Standard computer chips, which soon will have minimum feature sizes below 100 nanometers, will inevitably enter the realm of nanotechnology. The next generation of electronics may be based on molecular or maybe even DNA computing, in which the biological and the physical technologies truly merge into something new.
Industry Applications of Nanotechnology The primary opportunities in nanotechnology may arise in these industries. - Medicine. The pharmaceutical and medical industry could be revolutionized by developments in nanotechnology. For example, instead of flushing the whole body with an ingested chemical, nano-engineered agents in pill form may be able to deliver drugs much more effectively and selectively to target cells. Implants might also become much more refined with the use of nanomaterials adapted to the body's tissue on a molecular scale.
- Manufacturing. Nanostructured materials like super strong nanocomposites or self-cleaning nanocoatings already are big business. Such materials may become increasingly "smart" in the future; possibly even adapting to changing environments the way living tissue can. These adaptable materials could enhance product performance and even, given the potential to control the changes remotely, alter the very nature of service for industries employing nanostructured materials.
- Computing. Completely new computing structures like molecular logic gates may lead to another quantum leap in computing power. These technologies could replace—at least in part—silicon-based computers, and help to give intelligence to everyday items. In addition, the human interface to computers could merge with the environment with the help of smart materials.
- Energy. Nanotechnology could lead to the creation of new power devices, as shown by the progress in such fields as artificial photosynthesis and "parasitic" power devices. Existing technologies like batteries and fuel cells could also profit from advances in nanotechnology. Even more noteworthy, though, is the potential for energy savings made possible by eliminating the power inefficiencies of today's devices, which are inefficiencies that occur at the nanolevel. In the future, ultra-low-power devices might have no power switch at all—they would be "always on."
Onward to the Unforeseen and the Unseen Many of the materials, inventions and businesses that will be created by nanotechnology are things not even dreamed of today. One thing is certain, however: large amounts of money are already being invested in nanotechnologies and their business applications. In the United States, the government budget request for nanotech research for fiscal year 2003 is more than $700 million. The European Commission has allocated $1.3 billion on nanotechnology research over the next four years.¹ Clearly, substantial business opportunities may emerge as a result of major investments by government, high-tech companies and venture capitalists. The National Science Foundation predicts that the total worldwide market for products and applications incorporating nanotechnology will reach $1 trillion by 2015.² -------------------------------------------------------------------------------------------- Life and its marvels can be understood as a series of interactions in a dimension too small to be seen with the naked eye. But now that researchers increasingly are able to manipulate the world at this scale, there may be revolutionary developments that though they cannot be seen, must be watched. -------------------------------------------------------------------------------------------- Accenture Technology Labs, the technology research and development organization within Accenture, explores new and emerging technologies and collaborates with clients to turn technology innovation into business results. The Labs are located in Chicago, Illinois; Palo Alto, California; and Sophia Antipolis, France. -------------------------------------------------------------------------------------------- Roland Hengerer, researcher-Accenture Technology Labs, is based in Sophia Antipolis, France. He is a physicist with a Ph.D in chemistry and his research interests focus on nanotechnology, smart materials and quantum computing. Martin Illsley, director of research-Accenture Technology Labs, is based in Sophia Antipolis, France. He has a Ph.D in computer science. For more information, please contact us. If you found this article to be of interest, you may also be interested in Help Wanted: Chief Quantum Officer? What the Increasing Mix of Science and Technology Means to Business by Martin Illsley. ¹ Department of Trade and Industry, "New Dimensions for Manufacturing: A UK Strategy for Nanotechnology," June 2002 ² National Science Foundation, "Societal Implications of Nanoscience and Nanotechnology," March 2001 The views and opinions expressed in this article are meant to stimulate thought and discussion. As each business has unique requirements and objectives, these ideas should not be viewed as professional advice with respect to your business.
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