Glossary
Advanced machine intelligence
A future form of artificial intelligence, advanced machine intelligence (in the context of The Global 50) is a product of algorithms, data and processing power – including quantum computing – that enables computers to learn from data and to analyse and model vast datasets at speed in order to carry out advanced problem-solving and complex tasks. Advanced machine intelligence is referred to in the opportunities.
Agrifood systems (NEW)
Agrifood systems encompass all activities in the agricultural sector: specifically, all processes involved in the production, storage, transportation, distribution and disposal of agricultural products, as well as inputs and outputs, consumers and suppliers and associated management and underlying policies.
Agritech
Agritech covers a range of technologies contributing to increased agricultural yields and efficiency. It spans genetic modification, chemical and biochemical pesticides, herbicides and fertilisers and technologies for water and effluent management, harvesting, animal husbandry and storage.
Augmented reality (AR) (NEW)
Augmented reality includes both wearable technology and the outputs of superimposing virtual reality or digital media, smells, sounds and other sensory perceptions onto the real world.
Autonomous ground vehicle (AGV) (NEW)
Autonomous ground vehicles are robotic vehicles that can perform various tasks without human input. A combination of pre-programmed points, computer vision and sensors guide their movement. More advanced AGVs use AI to make decisions and navigate through, and in, various locations.
Autonomous ground vehicle (AGV) Lockers (NEW)
AGVs fitted with lockers that can travel to neighbourhoods, make door-to-door deliveries (where available) and notify customers so they can collect their parcels.
Avatar (NEW)
An avatar is a two-dimensional or three-dimensional image that is digitally designed by a human or computer. The image is intended to embody a person’s character and may be a partial or full representation – exaggerated or not – of how they look. Alternatively, it may be a generated digital identity developed through the person’s choice of character, icon or persona.
Biomaterials
Biomaterials are matter, surfaces or constructs that interact with biological systems. They can be natural or synthetic, incorporating metal, polymer or ceramic components. Biomaterials are designed to have specific characteristics for use in, for example, medicine and healthcare, textiles, building materials or packaging.
Biomimicry
Biomimicry is the imitation of natural biological forms, properties or processes in engineering and design approaches to develop better products and processes.
Biotechnology
Biotechnology uses and engineers living organisms and biological matter (genetically or at the molecular level) to develop processes and products for healthcare, pharmaceuticals, materials, fuels and agriculture and food systems.
Brain–computer interface (BCI)
Brain–computer or brain–machine interfaces are communication pathways that use wires connected to the brain or an external device to ‘read’ the brain’s neural signals (electron activity) or send signals to the brain using electric currents.
Carbon capture and storage (CCS)
Carbon capture and storage is the process of capturing and storing atmospheric carbon dioxide (CO2). CO2 can be stored through geological capture – by converting the CO2 gas into liquid under pressure and pumping it into porous rock or former oil-extraction sites. Alternatively, biological carbon capture is the natural absorption of CO2 by vegetation, soil and the oceans.
Carbon sink (NEW)
A carbon sink is anything found in nature that captures and stores carbon dioxide from the atmosphere. Examples include soil, plants and oceans.
Compound annual growth rate (CAGR)
The compound annual growth rate is the average annual growth rate over a specific period of time that is greater than one year.
Cryptocurrency
A cryptocurrency is a digital currency that relies on encryption for transactions and to produce new units (or coins). Cryptocurrencies are verified and traced using distributed ledger technology (DLT).
Decentralised autonomous organisation (DAO)
A decentralised autonomous organisation is an organisation that is governed by code and not a CEO or board of directors. Governance tokens are held by various stakeholders who have an interest in a particular project or the organisation and who subsequently vote on decisions.
Decentralised autonomous organisation (DAO) proposals
Ideas presented to a DAO community for consideration and votes.
Decentralised finance (DeFi) (NEW)
Decentralised finance is a type of financial service that avoids all centralised financial service institutions and intermediary approaches to saving, transferring, loan disbursal and other financial services. Enabled by secure distributed ledger technology (DLT) and digital wallets, DeFi empowers individuals, enabling them to carry out peer-to-peer financial digital exchanges. It is claimed that DeFi avoids all of the red tape associated with financial services today.
Decibel (dB) (NEW)
The decibel is the standard unit for measuring how loud a sound is.
Denial of service (DoS)
Denial of service is a type of cyberattack that restricts access to a system or many systems that provide services to users.
Digital native brand (DNB) (NEW)
Digital native brands are brands that are born and operate entirely online. They do not establish a physical presence and their employees work remotely, yet many such companies are able to generate revenues similar to those of the Global or the Fortune 500 or greater. Their only physical presence may be for shipping and distribution in the case of physical goods. Also called native virtual company (NVC).
Distributed ledger technology (DLT) (NEW)
A distributed ledger is a database of information that is simultaneously duplicated across a network of computers in different locations. Blockchain, an example of a DLT, promises to deliver flexibility, security and efficiency in recording and retrieving information. In contrast to a centralised ledger, it is a flexible system for recording information. A distributed ledger is a decentralised database that processes, validates and records transactions that have been agreed upon by all parties involved. Validated transactions are timestamped with a unique encrypted signature. All participants on the distributed ledger can view all records.
Driver
Drivers include phenomena, events, policies, strategies or scientific and technological advances that create the conditions for a trend to manifest itself and/or accelerate its impact.
They can be deliberate or spontaneous and create shifts in demand, behaviour and policies.
Ecosystem
An ecosystem consists of all living matter and organisms in a space, their physical environment and the interactions between them.
Exascale (computing) (NEW)
Exascale computing is a new type of supercomputing that surpasses the capability of supercomputers. While supercomputer performance is reported in FLOPS – floating-point operations per second – exascale computing performance is reported in exaFLOPS, with an exaFLOPS being equivalent to 1018 FLOPS.
Faraday cage (NEW)
The Faraday cage, or shield, was invented by Michael Faraday in the 19th century. Faraday discovered that a thin shield of materials could obstruct electromagnetic fields and protect anything or anyone inside an enclosure – hence the word ‘cage’ – covered with these materials from electromagnetic radiation.
Fascia (NEW)
All of the organs, blood vessels, bones, nerves and muscles in the human body are covered by the fascia. It is a thin web of connective tissue that holds everything together. However, with ageing, lack of movement, excessive repeated movement or trauma, it tightens up and hardens around what it covers, causing pain.
Flash loans (NEW)
Flash loans are available to users of decentralised finance (DeFi). Users can obtain unsecured loans from lenders without intermediaries. They are ‘flash’ loans because they are enabled by distributed ledger technology (DLT), which enables them to be returned within the same transaction, allowing for arbitrage (i.e. buying and selling to take advantage of price differences) across other platforms.
Gene editing
Gene editing involves making highly precise changes to a DNA sequence using enzymes that have been engineered to target a specific sequence for removal and replacement.
Gene therapy
Gene therapy involves modifying an individual’s genes to cure or treat a disease. Therapies include replacing a disease-causing gene with a healthy copy, deactivating a disease-causing gene or introducing a new or modified gene to treat a disease. Gene therapies are in the research stage for cancer, genetic diseases and infectious diseases.
Geoengineering
Geoengineering covers a set of technologies designed to manipulate the environment to mitigate or partially prevent climate change effects. Geoengineering approaches include solar radiation management, cloud seeding and carbon dioxide removal.
Geothermal power (NEW)
Geothermal power is a type of renewable energy generated from heat stored in rocks and fluid deep underneath the earth’s crust, where temperatures reach thousands of degrees Celsius.
Gig economy
In the gig economy, economic activity is based on flexible and temporary employment and contracts, either as people’s primary income or as supplementary income.
Greenhouse gases (GHGs) (NEW)
Greenhouse gases are gases that trap heat emitted in the earth’s atmosphere, causing the earth’s temperature to rise either immediately or over many years. This process is known as the greenhouse effect. The accumulation of GHGs is the main cause of climate change. Gases are emitted from industrial processes, agriculture and some modes of transportation. However, they can also be emitted from natural sources such as volcanoes and as a result of deforestation and melting ice sheets.
Greenwashing (NEW)
Greenwashing is the name given to the practice of intentionally making exaggerated environmental disclosures, engaging in environmental initiatives and/or issuing environmental commitments that are not implemented in practice or do not deliver the intended impact. It can mislead investors, consumers and the general public about commitments to environmental goals.
Gross national income (GNI)
Gross national income consists of gross domestic product (GDP) plus net overseas receipts from employees’ compensation in addition to property income and net taxes after production subsidies.
Gigawatt (GW)
A gigawatt is a unit of energy, equal to one billion watts.
Gigawatt hour (GWh)
A gigawatt hour is a unit of energy representing one billion watt hours and equivalent to one million kilowatt hours (KWh).
Human genome (NEW)
The human genome consists of three billion base pairs of the human DNA (deoxyribonucleic acid). Thousands of genes have been decoded so far.
Hyperloop
A hyperloop is an ultra-high-speed transport technology that uses a sealed, low-pressure tunnel or system of tunnels. Electromagnetic levitation allows autonomous pods to be propelled through the hyperloop with almost no friction.
Internet of Things (IoT) (NEW)
The Internet of Things (IoT) is a concept referring to the many devices and sensors that are connected to the internet. In this way, captured data can be collected, shared and analysed for various purposes, such as health monitoring, improvement and delivery; managing smart cities; monitoring and improving manufacturing; and administering transportation.
Interoperability
Interoperability is the capacity of different systems, devices, applications and products to process and exchange data without delay, disruption, errors or inconvenience to the end user.
Machines
Machines (in the context of The Global 50) are computers or robots with intelligent processing capacity. See also advanced machine intelligence.
Microplastics (NEW)
Microplastics are minuscule plastic particles (under 5 mm in size) that emerge from various sources and processes, including friction of wheels on roads, clothing manufacturing, plastic goods and industrial waste. Microplastics end up in the atmosphere or in the oceans and seas and are a health concern to both humans and animals who ingest them either on land or in water.
Muon (NEW)
Muons are formed when highly electrically charged particles – cosmic rays – arrive from outer space and go through the earth’s atmosphere. Muons are similar to electrons but over 200 times heavier, making them capable of going through dense solids, including all levels of earth itself.
Nanocatalysts (NEW)
Nanocatalysts are nanoparticles that increase the rate of a chemical reaction without themselves being transformed by the reaction.
Nanometres (NEW)
A nanometre is a standard unit of size: 1 metre is equivalent to 1 billion nanometres.
Nanoparticles (NEW)
A nanoparticle is a particle that is under 100 nanometres in size.
Nanoscale (NEW)
Nanoscale is a scale used to measure lengths under 100 nanometres.
Nanotechnology (NEW)
Nanotechnology is research, science and technology conducted at nanoscale.
Native virtual company (NVC) (NEW)
See digital native brand (DNB).
Net positive (NEW)
The term ‘net positive’ refers to the state in which the amount of greenhouse gases (GHGs) removed from the atmosphere is greater than the amount of GHGs emitted into the atmosphere. It can also refer to the general position of achieving more positive than negative impact on the environment, society and beyond.
Net zero (NEW)
The term ‘net zero’ refers to the state in which the amount of greenhouse gases (GHGs) emitted into the atmosphere is equal to and balanced by the amount of GHGs removed from the atmosphere. It can also refer to the general position of balancing positive and negative impacts on the environment, society and beyond.
Non-fungible token (NFT) (NEW)
Non-fungible tokens represent real or digital assets that are secured by smart contracts and reside on a blockchain with unique codes and metadata that distinguish them from each other. NFTs can be exchanged with cryptocurrencies. Assets include animations, images, text, tweets, in-game items, tickets and others.
Particulate matter (PM) (NEW)
Particulate matter consists of small particles found in the air. It may give rise to health concerns and may come from natural or synthetic sources. It includes dust, dirt, soot and smoke, and it may also be in liquid form. PM is sometimes reported as either PM2.5 or PM10, referring to the size of the particulate in micrometres (µm).
Post-traumatic stress disorder (PTSD) (NEW)
Post-traumatic stress disorder is a serious mental health condition. It occurs as a result of a traumatic event or experience that people consciously or subconsciously recall and that affects their decisions in daily life.
Proteome (NEW)
The proteome is the set of proteins in an organism. Proteins are key to the functioning of cells.
Quantum computing
Quantum computing is based on the principles of quantum physics and exploits the ability of subatomic particles to exist in two states simultaneously (e.g. 1 and 0). This exponentially increases how much data can be encoded (as qubits) and thus enhances potential computational power.
Radio-frequency identification (RFID) tag (NEW)
Radio-frequency identification tags are barcodes embedded in or placed on goods in order to identify them, track them and communicate information through radio frequency for analysis.
Ransomware (NEW)
Ransomware is malicious software that is designed to carry out cyberattacks to restrict victims’ access to their system or information in return for payment.
Ransomware-as-a-service (RaaS) (NEW)
Ransomware-as-a-service is a business model and service – including software, infrastructure and processes – offered by and to cybercriminals to enable them to carry out ransomware attacks on others.
Signal
Events, hypes, new technologies, products and services, local and regional data and disruptions that have the potential to grow to become drivers or trends.
Smart contracts (NEW)
Smart contracts are written in code and stored on a blockchain to safeguard against theft and to protect the ownership of underlying real or digital assets.
Space debris (NEW)
Space debris encompasses both natural (e.g. meteoroids) and artificial waste that is in orbit around the earth.
Supercomputer (NEW)
A supercomputer is a computer that performs at a significantly faster rate than general computers, as measured in floating-point operations per second (FLOPS).
Synthetic biology
Synthetic biology involves the redesign or re-engineering of organisms and molecules to give them new properties – for example, synthetic enzymes capable of digesting plastic.
Teleportation (NEW)
Teleportation is a theoretical possibility involving the transportation of information and matter based on the theory of quantum mechanics and entanglement.
Telesurgery (NEW)
Telesurgery is surgery where the patient and the surgeon are in different physical locations.
Terawatt hour (TWh) (NEW)
A terawatt hour is a standard unit of energy equivalent to 1,000 gigawatt hours (GWh).
Trend
A sustained socio-economic, environmental or technological change that has a measurably rising influence, such as physical or financial impact.
Virtual reality (VR) (NEW)
Virtual realities are computer-generated environments in which users can immerse themselves using wearable headsets or other accessories. In this way, they can interact with others and simulate real-life experiences and reactions in fictitious environments.
Web 3.0 (NEW)
Web 3.0, or Web3, is the third generation of the internet. It is characterised by greater reliance on AI for enhanced searchability and interaction.
Youthwashing (NEW)
Similar to the term greenwashing, youthwashing (in the context of The Global 50) means intentionally making exaggerated disclosures related to young people, engaging in youth-based initiatives and issuing commitments about young people that are not implemented in practice or do not deliver the intended impact.