as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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answer the following question in one sentence: what is the application of genetic engineering?
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genetic engineering is the application of modern biotechnology to manipulate the genetic material of living organisms to create novel biological products or processes.
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