11-11-11: Top 11 trends in innovation for 2011 (so far)

Innovation is happening all the time, but here are 11 trends worth keeping your eye on.

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Big data

Big data is probably the biggest trend in innovation today, with companies eager to turn the vast amounts of publicly available data into predictive technology. The IBM computer system known as Watson, seen here at IBM's T.J. Watson research center in Yorktown Heights, N.Y., is merely one development in this trend.

/ AP

Prosthetics

Robots have always been cool, but they are becoming increasingly essential as thousands of veterans return home in need of the devices. Here quadriplegic research subject Tim Hemmes operates a mechanical prosthetic arm with Katie Schaffer in a testing sessions at the University of Pittsburgh. The goal in this particular experiment is to create mind-controlled prosthetics to restore some independence to the paralyzed.

Timothy Betler / AP

Economics and finance

The global economic downturn has placed innovation in economics and personal finance front and center. Americans Thomas Sargent, right, and Christopher Sims shared the 2011 Nobel Prize in economics for providing ways to understand the impacts of policy changes or shocks like surging oil prices on output, inflation or employment.

Tim Shafer / Reuters

Manufacturing

The days of ordering a product made overseas are coming to an end. The advent of 3-D printing stands to upend the traditional supply chain, as companies create products consumers with the right tools can make at home. The motorcycle in this photo, for example, was created using 3-D printing technology created by Autodesk, Inc.

Autodesk

Influence

Today, your credit score is a lead determinant of your purchasing power. Soon, it may be your Klout or Kred score — online rating systems that determine your influence based on your participation in social media networks. Here Joe Fernandez, co-founder and CEO of Klout, speaks during a panel discussion at the Bloomberg Empowered Entrepreneur Conference in New York on Oct. 18, 2011.

Ramin Talaie / Bloomberg

Energy and waste management

The population, and the amount of waste it produces, continues to grow, but the availability of energy resources continues to shrink. The management of waste and the conversion of that waste into energy is yet another leading trend in innovation. Here, Waste Management Government Affairs Manager Jeff Sabin shows off the interior of a new solar-powered trash can in Jupiter, Fla., Oct. 24, 2011. The trash can's solar-powered motor compacts trash for fewer pickups, and can send e-mails and alerts to drivers about its status.

Richard Graulich / AP

Social entrepreneurship

Social entrepreneurship is an exploding trend in global development and philanthropy, allowing individuals to invest a small amount of money into prospective businesses in developing regions. While the trend is not without controversy, due to the potential for abuse on the part of lenders, it has shown promise in its ability to empower both the investor and the recipient. In this photo, Bangladeshi Nobel laureate Muhammad Yunus smiles as he arrives at the High Court in Dhaka, Bangladesh, on March 3, 2011.

Zia Islam / AP

Transportation

The flying car may be closer than you think. But its merely the tip of the iceberg when it comes to innovations in transportation, with new developments in electric vehicles and mass transit. Here, the Terrafugia Transition — a car-plane hybrid developed by MIT engineers and MBAs — is shown shortly after a takeoff. A major hurdle to production of the planes was removed recently when FAA granted the company a waiver to weight restrictions in June 2011.

/ AP

Education

Hideaki Nishio, 11, uses an iPad in his English as a second language class, Oct. 28, 2011, at Center Grove Elementary School in Greenwood, Ind. The introduction of new technologies and Web-based resources stands to fundamentally transform education around the world, but the cost of hardware has remained a barrier.

Scott Roberson / AP

Rent-a-fashion

The economic downturn has left consumers with less to spend. But that doesn’t mean they want it to reflect in their style choices. Enter rent-a-fashion — services that allow you to do what many a prom queen has done before. Buy a dress for a special occasion and send it back. Jennifer Hyman, chief executive officer and co-founder of Rent the Runway, one of the first companies to provide this type of service, speaks during a panel discussion at the Bloomberg Empowered Entrepreneur Conference in New York on Oct. 18, 2011.

Ramin Talaie / Bloomberg

Digital health care

If you want to know more about your health, it's increasingly likely there's an app that can tell you what you want to know. There are devices that can track diet and gamify exercise. There is also a service that offers personal DNA genotyping. Health care is one of the fastest growing trends in innovation as the costs of traditional services and medication continue to rise and the population continues to age.

David Paul Morris / Bloomberg

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