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For Innovation, Look to Artificial Intelligence, Robotics

Breakthroughs in artificial intelligence and robotics will drive innovation in the current decade the way the Internet and mobile technology did in the previous one, said the founder of the X Prize Foundation.

For Innovation, Look to Artificial Intelligence, Robotics
Source: Onexia.com

Peter Diamandis, the foundation's founder, chairman and CEO, told CNBC's "Squawk on the Street" n Wednesday that the scientific fields are well-suited to small teams and companies.

"We're living in a world that's being transformed," he said from Chicago, where he is attending the Charles Schwab Impact 2012 investment conference

The X Prize Foundation is an education-based nonprofit looking to help achieve radical breakthroughs that lead to the formation of new industries and the revitalization of stagnating markets.

The foundation offers large cash prizes in five areas of development, from energy to life sciences, to come up with "solutions to big problems, according to Diamandis.

Innovation is "really a partnership between corporations, philanthropy and the government," he said, adding that the U.S. "remains the top innovation nation."

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