The Singularity (also referred to as the Technological Singularity) refers to the eventual point at which humanity and technology will become virtually synonymous with one another. That is to say, people as we know them now will be just as much a product of our technological developments as the biological organisms we are now.
Due to the concept of Moore's Law, which charts the exponential increase in processing and computing power as time goes by, many believe that the Singularity is fast approaching. Technological advances and the singularity are typically broken down into the areas of Genetics, Robotics, and Nanotechnology. It is really just a question of when these areas will reach that technological milestone where both biological humans, and their technological developments, are dependent on one another. When that happens, many regard that to be the moment of the Technological Singularity.