From Renaissance Florence to early 20th century Detroit to Silicon Valley today, innovation hotspots come and go. They are a product of the talent, networks and investment that consolidate in certain places at certain times, and the technological paradigm of their era. Today, Silicon Valley dominates through its strengths in internet businesses and high-tech innovation. Other hubs, such as London and New York, also lead the world in areas such as fintech, media and cyber-security. But the leadership of these cities is being challenged, particularly in other emerging industries, as innovation becomes more dispersed, new technological paradigms emerge and the cost of living in today's leading spots become prohibitive for young entrepreneurs. New research from The Economist Intelligence Unit, commissioned by Pictet, has analysed where commercial activity in today's most disruptive emerging technology fields, such as artificial intelligence (AI), robotics, advanced biosciences and blockchain, is most vigorous, to hint at where new hotspots of innovation and entrepreneurial activity are emerging.