FitBit, Nike's (NYSE:NKE) FuelBand, and other fitness trackers are the new hot technology, but their current usage and functionality are only scratching the surface.

At last month's mHealth Summit near Washington, D.C., Motley Fool analyst Rex Moore spoke with an investing expert about the future of these tracking devices. Jack Young, who heads up the $100 million Qualcomm Life Fund at Qualcomm Ventures (NASDAQ:QCOM), envisions a marriage of FitBit and smart watches in the near future. As he explains in this video, longer term the technology may be tattooed on your arm or swallowed as a pill.