The digital age opened up countless opportunities for companies to explore. More importantly, those that were able to target the digital needs of the people accurately have boomed throughout the years. Google, Samsung and Apple are all considered big players in tech. These companies have introduced and encouraged trends. Like everything in the tech market, nothing is constant. As these companies make their shift, they will also shape the future global economies. There are several reasons why.
Smartphones have been changing the way people go about their lives. More importantly, they have also been changing the dynamics of work and social relationships. Forbes noted a paper from Mike Munger explaining what the next economic revolution will be like. A few excerpts from the paper's abstract reads: "While human capital is a strong predictor of economic development today, its importance for the Industrial Revolution is typically assessed as minor. To resolve this puzzling contrast, we differentiate average human capital (worker skills) from upper tail knowledge both theoretically and empirically."
The last of the abstract discussed what the future for economies may be affected with: "Finally, by joining data on British patents with a large French firm survey from 1837, we provide evidence for the mechanism: upper tail knowledge raised the productivity in innovative industrial technology."
According to Forbes, Apple's introduction of the iPhone along with Google's Android platform can support knowledge diffusion. This means that information access can also accelerate development.
A new report about Apple's Mac sales also shows how the company may shape the future of economies. Despite the declining personal computer demand, Apple managed to post "strong double digit growth" for its line of Macs. The results go against previous forecasts from IDC and Gartner. Along with this, Google, Apple and Samsung have been reportedly working on investing more on "Internet of Things." This is a trend that will allow tech companies to integrate their devices into one coherent ecosystem.