Cutting Edge, Up-And-Coming, State-Of-The-Art
noun, な adjective, の adjective
Something that is new and sharp (presumably because it's so new) is on the cutting edge. It's up-and-coming, the next big thing!
しんえい
This is a jukugo word that uses the on'yomi readings of the kanji. You should be able to read this on your own.
その会社は最新鋭のパソコンを購入することを決定しました。
The company decided to buy the cutting edge computer.