I believe technology serves us best when it gives us more time to do things that are uniquely human. This includes activities that are enjoyable, creative, and productive.

For nations and societies, the “good” or benefit of technology is often expressed in economic terms, in measures such as workplace productivity and business growth.

As we move into the Fourth Industrial Revolution and the digital transformation of life as we know it, the potential benefits and risks of this new era are in ongoing discussion, in Davos and elsewhere.

Will the Fourth Industrial Revolution deliver on its promises? Is it simply hype, or will it be a massive engine driving productivity gains, economic growth, and business success?

Forecast for growth

By calculating when these digital technologies could reach their tipping points and by applying historical formulas, Nokia Bell Labs has projected a significant productivity jump, as much as 30% to 35% in the U.S., starting at some point between 2028 and 2033. This is a similar leap to the 1950s and could add approximately $2.8 trillion to the U.S. economy. Similar gains are anticipated in India, China, and other nations.