Real-time computing is an enabling technology for many important application areas, including process control, nuclear power plants, agile manufacturing, intelligent vehicle highway systems, avionics, air-traffic control, telecommunications, multimedia, real-time simulation, virtual reality, medical applications, and defense applications. In particular, almost all safety-critical systems and many embedded computer systems are real-time systems. Further, real-time technology is becoming increasingly important and pervasive, more and more infrastructure of the world depends on it. Real-time computing is an enabling technology for many current and future applications that affect public safety, competitiveness, the economy, and life-style. Many results have been developed, but difficult research and transfer of technology issues remain. For example, real-time research has yet to grapple with three major realities concerning real-time applications. One proposed strategic decision is to develop a major funding and international research initiative in real-time computing to capitalize on current results, establish generic technology for the future, and thereby pay large dividends for safety and the economy.