With all of Washington consumed by the promise and perils of generative artificial intelligence and everything that comes with it, we risk neglecting the next technology revolution brewing under our very noses. Biotechnologies, built on our deepening understanding of how to read, write, and edit genetic code, the “code of life,” are not just transforming biomedicine but are generating better, more sustainable approaches to manufacturing, agriculture , and environmental health.

Engineered biology offers potential solutions to some of our most vexing problems. Already, companies are using bioreactors to grow organisms that can be brought to bear in pharmaceuticals, agriculture, raw material conversion, recycling, and so much more. And although these modern bioengineering advances seem to be the stuff of science fiction, we are just scratching the surface.

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Today, most companies working on engineered biology focus on healthcare applications, driven primarily by the promise of strong financial returns from medical breakthroughs. But the possibilities of bioengineering don’t stop there. Engineered biology can help protect the planet by removing carbon from the atmosphere; it can help feed the world by creating more resilient and nutritious crops; it can enable domestic manufacturing of more than we can imagine without the pollution we’ve come to expect. Engineered biology may also be the key we need to unlock new sources of energy that reduce our reliance on fossil fuels. A sustainable future requires bioengineering solutions.

The nation that pioneers the bioengineering solutions of tomorrow will be safer, richer, and more powerful. Policymakers must act now to ensure that the United States leads the biorevolution and that the biorevolution serves the nation’s needs.

McKinsey estimates that the annual global impact of the biorevolution could approach $4 trillion in the next 10 to 20 years. This explains why more than 20 national governments, including close U.S. allies, are investing heavily in the biorevolution.

The Chinese Communist Party has placed the biggest bet on bioengineering , and for good reason. As the top importer of U.S. agricultural products, Beijing seeks greater independence for its food supply. Its drive for economic growth and reliance on coal undercuts its climate goals, and the Chinese people need novel healthcare solutions for a rapidly aging population.

Bioengineering, by the CCP’s estimate, could be just the transformative solution it needs to curb some of its most profound domestic challenges. China has generously funded biological research, built new facilities and infrastructure for biotech development, including four university centers dedicated to synthetic biology, and has worked hard to recruit experts from abroad and ensure a vibrant talent pipeline at home.

Instead of begrudging Chinese ambition to lead all aspects of the biorevolution, the U.S. should use its own innovative capacities to outcompete China. U.S. taxpayers may have funded most of the basic research behind the biorevolution, but the country has not made it a priority to build the financial framework, infrastructure, operational standards, and incentives needed to translate the science into a biotechnology industry.

In September 2022, the Biden administration released a biomanufacturing executive order meant to bolster the country’s biomanufacturing investment and to keep pace with China’s growing interest and investment in the sector. Still, this attention has not been paired with concrete actions and the funding necessary to address core needs and barriers.

As the executive order outlined, the U.S. government needs to invest in biofoundries, where companies can use computational power and bioreactors to develop efficient, at-scale approaches to biomanufacturing. We must develop ways to collect, curate, aggregate, and enable secure access to biodata of all types in quantities that allow the application of advanced artificial intelligence analytics. We must create the legal, ethical, and security frameworks necessary to guide actions in this New Age of Biology.

The U.S. should not cede leadership of the biotechnology revolution to China. This revolution in engineering biology may well determine who enjoys a more sustainable, self-sufficient, and prosperous future. The nation that leads it will also reap geopolitical benefits, just as the U.S. translated its leadership of the information revolution into economic, military, and diplomatic power. If we do not start giving bioengineering the attention it requires, we are leaving the next technological revolution in the hands of others to own, govern, and leverage to whatever ends they see fit.

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Sarah Sewall is executive vice president for national innovation policy at In-Q-Tel, the not-for-profit strategic investor for the U.S. national security community and its allies. She served as undersecretary of state from 2014-2017, deputy assistant secretary of defense from 1993-1996, and was a Harvard Kennedy School professor in the intervening years.

Dr. Tara O’Toole is a senior fellow at IQT. She served as undersecretary of the Department of Homeland Security from 2009-2013, assistant secretary of the Department of Energy from 1993-1997, and as a professor and biosecurity center director at the University of Pittsburgh Medical Center and Johns Hopkins School of Public Health.