In an interview with Business Week, Frank Moss, the newly appointed head of MIT’s Media Lab, shares his thinking on the future of technological innovation which he believes is in the "societal business model."

"Companies are now paying attention to some of the major socioeconomic problems in the First and the Third World. We have a billion people using computers in the First World. It is still limited to wealthier societies."

"In the next 20 years we will see the adoption (increase) to 5 billion to 6 billion. And the kinds of killer apps that are important in that world are not those necessarily centered on communication and commerce."

"I think as we experience the problem of aging populations we will need to supply different ways to educate, and traditional schools are not the way to go. We will see technology dramatically change the way kids learn. We will see health care without hospitals. That is where the action will be. Just another tweak to a telephone or a handheld device will happen, but it will not be a major source of growth. That is becoming a commodity."

Read full interview