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We have Anastasia Amoroso here. Morgan Private Bank. Good to see you. And are we paying attention to them now more than ever? And the way that I would define a megatrend, it is a durable trend that is set to change and shape and disrupt the world as we know it not only for the next couple of quarters, but for the next several years. So we're not talking about trades here, but really trends that are going to develop and take hold over the next three, five and maybe even 10 years. And so there's three megatrends that we focused on in particular this year, which is digital transformation, healthcare innovation and sustainability.
And if you think about what's taking place this year with COVID, not only have those trends been very top-of-mind for people, but they've been significantly accelerated by the COVID pandemic. We're certainly seeing that this year and we think there's more to come. What are some of the new and exciting developments you're seeing?
The speed of innovation and how it's accelerating that's really the key development in healthcare. So this is happening for two reasons. First of all is our in-depth, advanced understanding of human genomics, which we've not had before. But now, we can sequence the human DNA in less than 24 hours, and we got the genetic code of the virus, really, in a matter of weeks.
So that's really the first breakthrough. The second breakthrough is the artificial intelligence and how that could be applied to the data in healthcare. So this has given a runway to a lot of breakthrough technologies in healthcare that we're excited about. For example gene therapy, which is the ability not only to treat but potentially cure some of the genetic diseases.
Then you got also cell therapy, which is often applied to cancer treatments and developing targeted cancer treatments that allow you to take a patient's cells, reprogram them such that when they go back into the patient's body, they can actually destroy cancer.
And then the next frontier in healthcare, which has also been spotlighted by COVID, is this notion of precision medicine. We should be developing treatments that are the right treatment for the right patient at the right time. So we believe that the future of medicine is personal. For example the push for 5G on our cellphones? And there's exciting trends like 5G, artificial intelligence, obviously developments in fintech. But for the last three years or so we've spent building out the 5G infrastructure, which allows us to potentially have mobile speeds that are a hundred times faster and latency that's quite a bit lower.
Well, what's the big deal about that? The big deal about it is first of all, we can download our movies faster. And that's why we're looking forward to the launch of the 5G smartphones. And we think we'll double the number of them that we buy over the next year.
But the really big thing about 5G is that this is a key enabling technology that allows many other technologies to take off. Whether it's connected cars, whether it's large-scale factory automation or augmented reality. So clients often ask, "What is the killer app for 5G? What could this mean for investors? This is not only about politics here, those performances. This is also about the economics of clean energy.
So regardless of the election outcome, when we look at the cost of electricity produced with wind and solar versus that produced with natural gas and coal, we see those costs of electricity converge.
And in fact, over the coming year, it's likely that it'll be cheaper to build a new wind and solar electricity capacity than to run an existing coal plant. So this is a true inflection point in clean energy.
And so yes, the government push towards clean energy globally is certainly helping, but also the favorable economics means that utilities are increasingly converting to renewables and clean energy.
But even more important, is consumers and corporates. So if you look at the corporate commitment to renewable energy, it has grown significantly. And that, I think, is what's ultimately going to drive this renewable energy evolution, combined with the consumer.
And I think that's why some of those renewable energy companies may continue to surprise to the upside. Thanks so much for joining us today.We can help you find the credit card that matches your lifestyle. So that's really the first breakthrough. Make purchases chase bank log inn your debit card, and bank from almost anywhere with your phone, tablet or computer and at our 16, ATMs and more than centralbank net, branches nationwide. And so yes, the government push towards clean energy globally is certainly helping, but also chase bank log inn favorable economics means that utilities are increasingly converting to renewables and clean energy. Good to see you. And we think we'll double the number of them that we buy over the next year.