In our opinion, these multiple revolutions are coming together to produce an explosive wave of innovation unlike anything we have witnessed before on the planet. They are likely to produce trillions of dollars of new wealth in the years ahead. In the process, they will radically alter the balance of power in the global economy. No industry or firm will be immune from the massive technological change that will engulf the global economy in the years ahead. It becomes difficult, if not impossible, to cluster firms according to traditional industry classifications and makes life challenging for people who can't think outside the box.
Speed is another distinguishing aspect of the current technology revolution.
As instantaneous communication spreads information rapidly, new technologies are entering our lives faster than ever before. For example, it took only about 16 years after the introduction of the personal computer before a quarter of American households owned one. Cellular phones, introduced in 1984, spread to a quarter of households in only 13 years, and it took only seven years before a quarter of households were online. In the past, it often took many decades before new products became a part of everyday life. Electric power was introduced in the 1870s and was not universally available until 50 years later.