Capital Markets Summer 2020

III

A New Era Emerges Accelerating Innovation

• Research has shown that technological revolutions occur continuously about every half century ‒ We believe we are in the irruptive phase of a new revolution, the Age of Connected Intelligence, when intelligent computing will be ubiquitous and pervasive

I

II

The Lifecycle of Technological Revolutions

III

IV

V

VI

Source: Carlota Perez, “Technological Revolutions and Financial Capital,” Edward Elgar Publishing, 2002; Alger.

16