Alphabet Executive Chairman Eric Schmidt Expects Genetics Advances

(RTTNews) - Alphabet Inc.'s (GOOGL, GOOG) executive chairman Eric Schmidt believes that dramatic advances in the health and technology will change the world in the near future, Bloomberg reported.

Schmidt expects technology will improve gene sequencing and make health care more efficient and personalized as the medical industry becomes more digitized.

Speaking at Bloomberg's Breakaway conference Wednesday in New York, Schmidt also reportedly said Alphabet will probably never break up and its job is to seek out transformative solutions. The government should play a role in accelerating these developments as they've done in the past, he said, pointing to initial public investment in Silicon Valley that allowed it to become the high-growth area it is today.