Tue, Jul 29, 2014 11:47
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Magic Never Before Encountered Or Imagined.
              “I believe that we are facing magic many of us have never encountered or imagined.” So says Remus Lupin in The Deathly Hallows by J.K. Rowling.

You can say the same about our economy and the technology that impacts it. Today I read about researchers at Tokyo University developing a hologram you can touch, or at least, have the sensation of touching.  The number of variables in technology has created an exponential curve of change to which we’ve become accustomed. (iPads, iPhones, Facebook reaches 500 million users,etc.).

 Let me make sure you note University of Texas professor James Scott’s research at the Mays School of Business on how to handle the vast number of variables now commonplace in the age of computing. “Multiplicity adjustment,” as it’s known in the field, refers to the ability to account for the false positives and false negatives that will almost surely appear in very large datasets.  What’s random, and what’s connected?   Scott’s research brings us a step closer to being able to analyze patterns and trends in almost everything.  

Yet what will we do with this technology?  While my iPhone contains computing abilities via its hardware and the net that NASA only dreamed of in the 1960s, NASA put a man on the moon in the age of vacuum tubes.  Yet we wrestle still with the unknown factors that technology still can’t pierce.  The Gulf of Mexico economy reels from a major screw-up at only one, yes that’s one, oil well.

Despite hits, technological change and the economy that builds on it moves on still an increasing pace.  Cirrus Logic saw revenues double from sales of logic chips. Samsung holds a job fair for its planned $3.6 billion expansion of its semiconductor plant.  Dell Computer grabs Ocarina, a three-year-old startup.  Rackspace and NASA launch open-source cloud computing.  Austin’s e-MDs jumps into electronic health records., which Dell teams with Microsoft to expand Microsoft’s cloud computing software.  Advanced Micro Devices reported record second-quarter revnew and plans to introduce chips which combine graphics processor and a computer processor on the same piece of silicon.  TI snaps up Japanese chip factories, and Raytheon gets read to build $41.9 million of jamming systems for the U.S. Department of Defense.  This is only a tiny fraction of the technology news this week in Texas. 

Lupin is right. I believe that we are facing magic many of us have never encountered or imagined.