Summary of the law of accelerating returns Essay

Summary of the law of accelerating returns - Essay Example According to the article, ‘Law of Accelerating Returns’ evolution relates to constructive feedbacks relating to a phase of evolutionary progress is used to form the next phase. Therefore, the rate of advancement in an evolutionary process escalates exponentially over a period, which highly influences the ‘Law of Accelerating Returns’ that involves rapidity, cost-effectiveness and complete "power" of a procedure. The second phase of exponential development occurs when higher resources are organized in the direction of further advancement. ‘Biological and technological evolution’ can be referred as evolutionary processes. For an instance, transistors are incorporated within a circuit to create powerful computers, which in turn provides a prospect for exponential growth until the computers become powerful. This induces a paradigm shift, which ensures that the process of exponential growth keeps persisting at a rate, which doubles in each decade (Ku rzweil, â€Å"The Law of Accelerating Returns†). The Singularity is the technical revolution, which is so prompt as well as intense that the rate of exponential growth has become infinite and technology seems to be mounting at limitless speed. Therefore, it can be considered that the Singularity will transmute different facets of our lives socially, sensually and economically. Advanced technologies in the present day context, has been subjected to law of accelerating returns. ‘Moores Law of Integrated Circuits’ came into existence, which was highly recognized in the public as a paradigm for exponential progression in computers. The overall speed of computers has doubled each year, which has given rise to flat chips used in computers. Moores Law has extended to such a level in terms of computational power due to which exponential progression has not been viable. Thus, ‘Moores Law’ can be considered as S curve. In agreement with the