Increasingly inexpensive genetic sequencing and engineering tools could upend everything from health care to fuel.

Why it matters: This bio revolution could lead to a world that is more sustainable and even extend human lifespans. But its full extent is dependent on social acceptance and carries serious risks as well.

What's happening: The scientific reaction to COVID-19 illustrates the rapid change in the biological sciences, says Michael Chui, a partner at McKinsey Global Institute (MGI). "For SARS-CoV-2, it took a matter of weeks between identifying the new disease and sequencing it, compared to months for the original SARS virus."

But the response to COVID-19 only scratches the surface of what the bio revolution may make possible.

How it works: The chief driver of these changes is the rapid drop in cost of the tools that enable us to understand and increasingly manipulate the stuff of life, including in our own bodies.

The catch: Because biology is far more regulated than the field of artificial intelligence, the speed of the bio revolution will depend not just on science, but on public attitudes. The MGI report estimates 70% of the total impact could hinge on consumer, societal, and regulatory acceptance.

The bottom line: AI gets much of the attention, but advances in biotechnology are poised to be just as momentous. Put those two fields together and they will transform the world.

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A coming bio revolution is poised to change the world - Axios