The earliest recorded use of the phrase appeared in the 1880s and was in reference to gas turbines, so we have to say that it "came from" engineering. It means, of course, the current, most up-to-date stage of the development of some technological item.
Actually, the gas turbine reference's date was 1910. The 1880s reference was in the form 'status of the art' and that dealt with photographic printing.