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The speaker reflects on the impact of cancer on families, with one out of every three people in the audience likely to be diagnosed. They discuss the potential of genetic engineering to eradicate genetically caused diseases, emphasizing the importance of understanding the concept. Genetic engineering has been used to strengthen traits in plants and animals through selective breeding, but the discovery of DNA has provided a deeper understanding of how it works. This new knowledge has led to the development of chemical compounds that were previously harvested from animal organs, such as life-saving clotting factors.