As semiconductor industry approaches seemingly finite limits of physical scaling, a number of inflections are unfolding around us that may require us to rethink how we design, develop and manufacture semiconductor devices. Sensing, positioning, energy-aware and predictive systems are becoming the norm, opening up wider applications and enormous growth potential for semiconductor industry. Yet, implementation of such technologies from research to reality also poses technical and business challenges. Such systems require ultra-low power, always-on sensing, connectivity, vast embedded and discrete memory, smart energy sources and management – all wrapped in to ever smaller form factors. IoT, self-driving automobiles, next generation 5G networks, machine learning, brain-inspired computing, virtual/immersive reality and many other emerging trends will also need large investments for successful deployment and business models for ROI. The cost of developing such technologies, acceptable standards, security protocols, inter-platform operability, etc., will need unprecedented collaboration in the industry. The panel will deliberate on these topics and discuss trends, applications that are shaping around us, industry needs, infrastructural/manufacturing gaps and economic challenges.