“Technology will change completely what we are doing at this present time, and not only what we are doing, it will have an impact even on who we are. Just look at how even the internet has changed to a certain extent our identities over the last 20 years,” Schwab said.

“Technological innovation doesn’t deal with one or two innovations,” he also remarked. “It’s a whole panoply of technologies which interact, and which will compete and change how we produce, how we consumer, how we communicate.”