state of the art

noun
the latest and most sophisticated or advanced stage of a technology, art, or science.

Origin:
1960–65

state-of-the-art, adjective
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
state of the art
 
n
1.  the level of knowledge and development achieved in a technique, science, etc, esp at present
 
adj
2.  the most recent and therefore considered the best; up-to-the-minute: a state-of-the-art amplifier

Collins English Dictionary - Complete & Unabridged 10th Edition
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Etymonline
Word Origin & History

state-of-the-art
1967, from noun phrase (1910), earlier status of the art (1889). The phrase itself was in use from mid-19c.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Internationally-recognised professors, cutting-edge technology and
  state-of-the-art campuses don't come cheap.
There are concourse-level luxury boxes, wide concourses, state-of-the-art
  scoreboards and plenty of concession stands.
The department is housed in a state-of-the-art research and teaching facility
  that includes excellent space for animal research.
It is building a state-of-the-art teaching hospital as well as reportedly the
  largest student-services hall in the world.
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