21  One argument is that the current wave of 22  A second is that the  ICT revolution is already quite mature and that future progress is likely to be slower. 23  A third is that, with  world population expected to peak this century, so too might the pace of innovation. 24  innovation, grounded in ICT, does not have the same potential as past innovations. These arguments are contentious and have been the subject of lively debate. 25  Some have argued that the  ICT revolution has already had a greater impact on productivity than the steam engine. 26  Others have  argued that the ICT revolution is still in its infancy and has vast potential for further disruptive innovation. 27  And a third contends that there are many emerging technologies with the potential to revolutionise the economy, such as robotics, artificial intelligence, Big Data and the human genome. 28  (e) Diffusion Dynamics  An alternative way of accounting for slower productivity growth is that it arises, not from slower rates of innovation, but from slower rates of diffusion of innovation to other companies and countries. 29  For example,  recent empirical work by the OECD has highlighted the possibility of the technological diffusion engine having slowed, or even stalled, over the most recent period, with a widening in dispersion between the fortunes of those companies operating at the technological frontier and those operating inside this frontier.

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