It can provide a platform for enhanced wealth creation and general standards of living. But there is a challenge. If businesses don't adopt the technology they will be left out of the information economy. And their existing customers will be vulnerable to the agile and interactive allures of online international competitors. Similarly, if Governments don't use this technology they may be missing opportunities to enhance living standards, by improving the effectiveness of their services and, through their use, contributing to the overall takeup across the economy.
Speed is what has characterised the emergence of the information economy.
Fewer than 40 million people were connected to the Internet during 1996. By the end of 1997, more than 100 million were using the Internet. On present investment figures, the Clinton administration is forecasting one billion people will be connected to the Internet by 2002. Usage is even outstripping takeup. Traffic on the Internet has been doubling every 100 days.