There are many laws that help us to make sense of the world: the laws of physics; the law of averages, write George Osbourne, the UK finance minister, and Eric Schmidt, Google chairman. However, one of the more significant is Moore’s law, which forecasts that the processing power of the latest computer chips doubles every two years. This prediction has proved to be unerringly accurate over the past 50 years, and means that the pace of technological innovation is accelerating, not slowing nor flatlining.
However, it is not just the pace of technology progress that is accelerating. The role that technology plays in driving job creation and economic growth becomes more important each day.