Psychiatry faces a number of challenges as a field. These include the high individual and societal costs of mental illnesses, overlapping and heterogeneous diagnoses, a complete lack of biomarkers, and treatments that, although efficacious for some, leave many without adequate relief. On the other hand, scientific and technical advances present considerable opportunities, especially in genomics, computational and theoretical approaches, and neural circuit technologies. The National Institute of Mental Health is committed to taking advantage of these opportunities to address the challenges of psychiatry, in the service of achieving our mission of transforming the understanding and treatment of mental illnesses.