This is an excerpt from a contributed article in The Economist by Stephen Lake, Co-Founder and CEO, Thalmic Labs.

In 2014, two huge investments into wearable technology made headlines in the tech world: Google led a US$542 million investment round into startup Magic Leap, and Facebook bought Oculus Rift for the hefty sum of US$2 billion.

In 2015, investment into wearable technology continued. Fossil Group agreed to acquire Misfit, a maker of wearable activity trackers, for US$260 million, and Intel acquired the wearable heads-up display manufacturer, Recon Instruments, for US$175 million. Fitbit, another wearable activity tracker maker, raised US$732 million in an IPO which valued the company at over US$4 billion.

Some of the smartest minds are making serious bets that the way people interact with technology is about to radically transform.

And why shouldn’t it? Our interactions with technology are long due for a makeover.

Read more in The Economist: How to think about computers in the 21st century.