What comes after the Information Age?

First came the steam engine, then the railway. This was followed by electrical engineering, the automobile, and finally information and communication technology.

Based on such achievements, the Russian economist Nikolai Kondratjew divided economic activity into wave-like cycles lasting 40 to 60 years. The trigger is always a foundational technology, such as the steam engine in the 19th century, followed by a period of innovation. This is followed by phases of recession and depression, which then usher in the end of the respective cycle. In the subsequent trough, the economy recovers and a new innovation emerges.

According to Kondratjew, the Information Age we are currently in should have already passed its peak. A 2021 study by Allianz Global Investors also suggests that several phenomena from the past point to a shift in eras: the savings glut and negative interest rates of recent years, as well as declining productivity, populism, the growth debate and, not least, climate change. But what comes next?

California scientists recently succeeded in reversing ageing in a mouse. What does this mean for the future? How far can we extend human life? Or are we on the verge of overcoming death? Biotechnology could fundamentally change our lives.
A revolution in energy supply is also drawing ever closer: the use of neodymium lasers has enabled researchers, for the first time, to obtain more energy from nuclear fusion than they invested in the process. How long will it take for this technology to reach market maturity and provide us with (almost) free electricity?

Artificial intelligence is also making ever greater progress. Smart cities, smart refrigerators and smart sunglasses—the “Internet of Things” stops at almost nothing. Quantum computers with specialised hafnium-containing chips could quickly take artificial intelligence to the next level.

Which of these developments will become the foundational technology of the 6th Kondratjew cycle? We do not know. Nevertheless, we are watching developments with great interest and are already stockpiling the commodities required. This allows investors to benefit from the inventions of the future, including tax-free purchases and tax-free gains after a holding period of one year.