Our global agriculture systems are under stress from water scarcity, land use changes and climate change, yet these systems will be called upon to increase output by 70% by 2050. We believe new technologies and business models will emerge to enable this growth while creating significant opportunities for entrepreneurs and investors.
The energy industry is in the midst of a historic transition. Just as previous generations shifted from wood to coal and oil, and then to gas and nuclear, over the past 25 years we have been moving towards renewable resources like solar, wind and biomass. Each transition has been driven by new technologies and this one is no exception. We believe that this energy evolution will continue for several decades while creating opportunities for energy systems to become cheaper, more efficient and cleaner.
U.S. manufacturing has been under pressure from globalization for decades. More recently, robotic technology has delaborized manufacturing in the U.S. and abroad. We believe that technology is leveling the playing field for manufacturing and that the U.S. will reemerge as a preferred destination. We also believe that automation, driven increasingly by artificial intelligence solutions, will continue to create compelling investment opportunities.
More disruptive change has come to the automotive and transportation sector in the past 5 years than in the previous 50 years combined. Car sharing and ride sharing were the first wave, but their impact was mild compared to what may be coming from automation and driverless vehicles. This transition will not happen quickly or smoothly and changes will be required well beyond the vehicle itself.
When combined with the transition to electricity, as the primary transportation fuel, the move towards a cleaner, safer and more efficient transportation system will create opportunities for innovation worth hundreds of billions in value creation for those with the vision and resources to bring them to market.