10 Inventions That Have Changed the World | WT Wealth Management White Paper

From the dawn of humanity, technological advancements have transformed our way of living and shaped the world around us. From the creation of the printing press to the automobile to the personal computer, mankind now has routine access to technologies that were once unimaginable. Man has proven to be a curious and industrious species in enduring pursuit of new knowledge and exploration of the world around them. It is this innate drive for progress that has pushed humans to harness fire to settle previously uninhabitable climates, build sailing vessels to cross the vast oceans of the planet in search of new continents, and invent rockets to escape Earth's gravitational pull and send astronauts into outer space.

"We choose to go to the moon, not because it will be easy,
but because it will be hard." –John F. Kennedy

Below is a list of ten of the most impactful inventions that have changed the world as we know it today. All of these inventions would have been excellent investment themes. At WT Wealth Management, we believe many of today's technologies, like Artificial Intelligence, Cloud Computing, Machine Learning and Blockchains, could have a similar paradigm-shifting effect on humanity. Some think they will be even more impactful.

The Printing Press

The printing press, devised by the German Johannes Gutenberg in the mid-15th century, enabled the mass production of books. As a result, it led to the spread of ideas, knowledge, literacy, and the creation of libraries in Europe. The printing press was a key revolution that accelerated the transition from the Middle Ages to the Renaissance.

The printing press introduced the idea that machines eliminate jobs, although it gave rise to a powerful industry of printers, booksellers, and writers, among other trades.
The Steam Engine

The steam engine, invented by the Scottish engineer James Watt in 1775, revolutionized transport and machinery in the 19th century and drove the First Industrial Revolution. The steam engine allowed the rapid expansion from an economy based on agriculture and trade to an industrialized economy with meteoric rise in production capacity.

The steam engine gave rise to locomotives, steamships and the first automobiles. The effect on employment, travel and industry was immediate, and the world became instantly smaller.
The Telephone

Alexander Graham Bell worked as a speech and hearing expert as his mother and wife were both deaf. Seeking to improve the telegraph, researched voice transmission until, in 1876, he patented the telephone. This device revolutionized communication by allowing instant speech even over long distances.

It is one of the most significant advances of the Second Industrial Revolution, to the extent that it marks the beginning of modern society. Without the telephone, the world would not exist as we know it today.
The Photographic Film

The use of photographic film was pioneered by George Eastman, who started manufacturing paper film in 1885 before switching to celluloid in 1888–1889. His first camera, which he called the "Kodak", was first offered for sale in 1888.

By the end of the 19th century, the camera was a simple box with a fixed-focus lens and single shutter speed, which, along with its relatively low price, appealed to the average consumer.
The Automobile

The Benz Patent-Motorwagen, built by Karl Benz in 1885, is widely considered the first practical modern automobile. Benz applied for a patent for his "vehicle powered by a gas engine" on January 29th, 1886 and was first publicly driven in the same year.

The Benz Patent-Motorwagen was the first car to be mass produced, though only 25 Benz Patent-Motorwagen's were built between 1886 and 1893. The Benz Patent-Motorwagen had a water-cooled internal combustion engine, three wheels, tiller steering, and a buggy-like seat for two.
The Airplane

In 1903, the Wright brothers created the first human-piloted motorized airplane, the Wright Flyer. The flight lasted only 12 seconds, but with this experiment, which defied gravity, they laid the foundations of aeronautical engineering.

Their designs inspired others to develop commercial aviation. In 1927, Charles Lindbergh became a hero for his non-stop crossing of the Atlantic Ocean. This technological ingenuity boosted trade, culture, tourism and, today, the air transport industry is key to global economic prosperity.
The Personal Computer

Computers have reshaped people's lives and the way they work, simplifying tasks, storing information and processing data quickly and efficiently. The invention of the transistor (or semiconductor) in 1947 began the road to personal computers. This component replaced the vacuum tube and was the key to creating smaller, more reliable electronic devices. John Blankenbaker's Kenbak-1 is considered the first personal computer. Another key innovation in the development of the PC (personal computer) was microprocessors (1971).
The Internet

As with most technological inventions that have changed the world, the birth of the network of networks (internet) would not be possible without earlier experiments and technologies. The connection of four university computers to ARPAnet in 1969 was the seed for the birth of the internet.

It continues to evolve today, bringing new forms of interaction and economic, social, and cultural growth. Of all the amazing things that transpired in the 20th century, the internet must be #1.
The Mobile Phone

In 1983, the first mobile phone small enough to be portable was launched: The first generation of mobile phones was only for talking, but as it evolved, the terminals provided new functions, such as sending texts or email, paving the way for smartphones capable of browsing the internet, capturing photos, listening to music, guiding via GPS or updating social networks, among many other functions.

Today it is one of the essential technological inventions in personal and professional life bringing calling, texting, internet browsing, shopping, entertainment, and any and every App you can think of to your fingertips.
Artificial Intelligence (AI)

Alan Turing, with his early contributions to modern computing, is considered the father of artificial intelligence, though the term was not coined until 1956. Turing published his work "Computer Machinery and Intelligence" which eventually became The Turing Test, which experts used to measure computer intelligence.

Today, this technological invention has crept into our lives in the form of chatbots, voice assistants, autonomous vehicles, real-time translators, artificial vision and more recently ChatGPT. Machines capable of reasoning will further transform the world of the future with applications and uses that we cannot even imagine today. Generative artificial intelligence is becoming increasingly important and quickly adopted across most industries.

What Comes Next?

The future is hard to predict; however, experts agree that there are seemingly endless potential applications of Artificial Intelligence (AI), Cloud Computing, Machine Learning and Blockchains, as well as risks. At WT Wealth Management, we expect to see further adoption of transformative technology by businesses of all shapes, sizes, and industries. We undoubtably would expect to see changes in the workforce as more automation eliminates some jobs and creates others. We would also predict more widespread adoption of devices that think and act independently along with widespread adoption of autonomous devices, like vehicles.

Many of these innovations will be adopted over short periods of time and others will take decades to transform our lives in ways that are unimaginable. This is the fun part of investing. Investors are usually on the forefront of exploration and adoption as many of us that make decisions on how and why to invest enjoy seeing the product "in action" before investing in it.

I can remember my first Uber ride as far back as 2013. The concept of hailing a ride via my phone and not having to track down a book of matches for the number to a cab company was eye-opening. Now, ten years later, one can hail a driverless car from Waymo and hurdle down a Phoenix freeway at 70 miles per hour in an unmanned car.

At WT Wealth Management, we routinely observe transformative technology development both in investment opportunities and in the world around us. We are still not sure how AI, Cloud Computing, Machine Learning and Blockchains will change our daily lives, but rest assured, we ask ourselves that question every day as we observe which developments and opportunities to invest in next. To quote John F. Kennedy once again, "some men see things as they are, and ask why. I dream of things that never were, and ask why not?" The technology innovators of today do just that.

Sources
All research for the invention list was obtained by Generative AI via Google

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