If harnessed correctly, technological change can bring about immense economic opportunities, new and better ways of doing business, the creation of new industries, new and better-quality jobs, higher GDP4 growth, and improved living standards. The current technological developments have the potential to lift growth and productivity, thereby raising living standards over the longer term.
However, if organisations and governments fail to embrace new technologies to capture the benefits they bring, changes in labour markets may instead contribute to rising inequality, as the middle-skilled jobs relative to both high- and low-skilled jobs  3 Mc Kinsey Global Institute. Jobs lost, jobs gained: what the future of work will mean for jobs, skills  and wages.