The advancement in biotechnology that this presentation is about is gene splicing.
The "gene-splicing" biotechnology is already having an impact on farming. The Usaca says that there is a "multitude of potential benefits of engineered crops, including increased yield, drought tolerance, reduced pesticide use, and more efficient use of fertilizers."
Gene spliced wheat that grows faster and needs less fertiliser and water
Also there are allready gene spliced crops that are used to produce medicines that previously could only be made in a lab.
Many medicines can be produced through gene spliced crops
What are potential problems associated with this technology? A report from the Top 100 American Scientists reported that some gene spliced organisms could lead to “irreversible, devastating damage to the ecology."
Why is this technology important? Without it, many vaccines and other medical treatments would not exist. Gene splicing technology has produced many vaccines and essential proteins for medical purposes.
Vaccines created with gene spliced material
How does this technology work: Restriction Enzymes are used to splice, connect, remove, or add nucleotides to sequences.
The only ethical considerations that arise from gene splicing are the possibility that creating new life is akin to "playing God" and is therefore heresy. However this is still undergoing testing.
Using a scientific tool to test the hypothesis that gene splicing is not heretical, results pending.
Sources: http://www.premierbiosoft.com/tech_notes/gene-splicing.html http://science.jrank.org/pages/2956/Gene-Splicing.html http://science.jrank.org/pages/2954/Gene-Splicing-Recombinant-DNA-technology.html http://www.ucsusa.org/our-work/food-agriculture/our-failing-food-system/genetic-engineering-agriculture#.WK8SB1UrLIU http://www.nytimes.com/1981/07/05/us/ethics-of-gene-splicing-troubling-theologians.html?pagewanted=all