The strategy, which comes ahead of the Integrated Review of foreign policy, defence, security and international development, seeks to ensure the forces are equipped to meet future threats.
Mr Wallace said the UK needs to improve its understanding and access to emerging technologies, and not just “match our adversaries like for like” but “actively increase our technological edges”.
And he said he hoped to accelerate the journey from laboratory to battlefield, while stressing that he did not want to replace humans but rather to support and supplement them.
He added: “To succeed, we’re going to have to tap into our brightest brains across defence industry, academia and the whole of society.
“We’re going to have to bridge the valley of death, between advanced science and technology research, production, scaling and commercialisation.
“We’re going to have to make smarter choices about how we invest taxpayers’ money, take greater S&T risk where we do spend that money.”
Mr Wallace was speaking after a demonstration of the latest unmanned autonomous vehicles, drones and geolocation systems, which can now be securely linked together, on Salisbury Plain on Monday.