Ultrafast technology and applications: after the epiphany

Summary form only given. We continue to ponder the old question "What is the value of ultrafast technology" as well as the new one "How can we implement it cost-effectively?". As time goes on, we are seeing certain applications emerging where clear benefits are obtained in using ultrashort pulses, and the investments required to engineer ultrashort light sources are being made. But, in general, the problem of the universal compact ultrashort light source that can be `tuned' to any arbitrary application is far from solved, and much progress still needs to be made. Also, new applications are continuously being uncovered, creating new opportunities. We will give an update on the status of ultrafast technology as it continues to make its way into the real world, and highlight some of the outstanding challenges