Technology to drive future economy

Technology, rather than manual work, is expected to drive tomorrow's economy, according to a new report from banking giant HSBC.

Advancements in how we use computer technology are forecast to have a heavy impact on the business world, while wireless connectivity - facilitating the use of VoIP hardware and other innovations - will also be integral in the future economy, reports itpro.co.uk.

In addition, the report, entitled The Future of Business, suggests that social networking will become even more important as a business tool in the coming years.

Noel Quinn, head of commercial banking in the UK for HSBC, said: "Industry, skills and technology such as social media and social networking, created during economic hardship, are destined to become the tools of the trade for many of tomorrow's businesses."

The report predicts that Leeds, Brighton, London and Liverpool will be among the cities that become particularly notable for their technology advancements.

Meanwhile, Top 10 Broadband has reported that Wi-Fi community networks could be one of the best ways to reach government connectivity targets.