It takes time for new technologies—even transformative ones—to diffuse throughout the economy, for consumer adoption to become less geographically concentrated, and for firms to restructure business operations to best unlock new technical capabilities.
Firm adoption, first for a narrow set of tasks, then for more general purpose applications, is an important way that consequential technologies spread and have transformative economic effects.3
In other words, a hallmark of early technological adoption is that it is concentrated—in both a small number of geographic regions and a small number of tasks in firms.
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