Productivity advances over the next 20 years will be determined largely by how widely and rapidly we use IT to help existing industries adapt.
Harnessing the future – Rust Report 21/10/2011
October 21, 2011 – Publisher Len Rust
Modern technologies and applications, particularly of information and communication, are a major driver today not just of improved quality of life but also of economic growth. The implications of the growth of the “digital economy” for the prosperity of the general economy cannot be overstated. Numerous studies have documented the relationship between increased use of information technology (IT) and the transformation of industries.
Indeed with a large percentage of the economy in the service sector, productivity advances over the next 20 years will be determined largely by how widely and rapidly we use IT to help existing industries adapt. But IT’s importance is not confined purely to boosting economic growth. In a host of areas, including health care, environmental protection, transportation, education and government services, IT plays an increasingly critical role.