The pace of innovation is accelerating, says bank

Predictions about future job growth are getting harder to make. Innovation is happening so quickly in so many areas that it's making Moore's Law look sluggish.

Moore's Law states that computing power will roughly double every two years. But advances in robotics, analytics, sensor technology, 3D printing and other technologies are "radically accelerating" this pace of innovation.

Bank of America Merrill Lynch, in a new study, looks at the innovations ahead and quantifies what it sees as the growth rates of various technologies. But when it comes to the impact on jobs, the bank's researchers are scratching their heads like everyone else. There is worry, in this comprehensive report, that automation could upend the U.S. government's job growth estimates.

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