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Technology Ushers In a New Distributive Economy

Trend Summary: Technology ushers in a new distributive economy.

According to Where is Technology Taking the Economy?, an article in McKinsey Quarterly by W. Brian Arthur, intelligence is no longer just housed in the brains of human workers, but emerging through the constant ...

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... interactions among machines, software and processes. 

Posits Mr Arthur: As machines start to exhibit associative intelligence, something we thought only humans could do, current economic rules may no longer apply.

"We’re at the very start of this new distributive economy era", adds Mr. Arthur. “Everything from trade policies to government projects to commercial regulations will in the future be evaluated by distribution.”

According to Mr. Arthur, the digital revolution has morphed through three distinct eras over the past several decades.

The first era, in the 1970s and 1980s brought us Moore’s law and the dramatic advances in semiconductor technologies.

From mainframe and supercomputers to PCs and workstation, IT was now being used in a wide variety of applications, from financial services and oil exploration, to computer-aided design and office systems. “The economy for the first time had serious computational assistance.”

Read the original unabridged WSJ.com article.

[Estimated timeframe:Q4 2017]

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: WSJ.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=7271

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