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General-purpose technology
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<p>General-purpose technologies (GPTs) are technologies that can affect an entire <a href="/facts/Economic_system/N4SBdoxS">economy</a> (usually at a <a href="/facts/Nation/ed3XkH6y">national</a> or global level). GPTs have the potential to drastically alter societies through their impact on pre-existing economic and social structures. The archetypal examples of GPTs are the <a href="/facts/Steam_engine/f7hN8vzm">steam engine</a>, <a href="/facts/Electricity/hNC8D65W">electricity</a>, and <a href="/facts/Information_technology/glMzunwe">information technology</a>. Other examples include the <a href="/facts/Railroad/9nJQbsDV">railroad</a>, <a href="/facts/Interchangeable_parts/wRgReIGV">interchangeable parts</a>, <a href="/facts/Electronics/E4JhgISq">electronics</a>, <a href="/facts/Material_handling/PDX9zwxH">material handling</a>, <a href="/facts/Mechanization/7rWqaHvX">mechanization</a>, <a href="/facts/Control_theory/aIuERpn6">control theory</a> (<a href="/facts/Automation/3YlF2K5q">automation</a>), the <a href="/facts/Automobile/I1IsH8IK">automobile</a>, the <a href="/facts/Computer/SQe1aK05">computer</a>, the <a href="/facts/Internet/Xw1rVvJU">Internet</a>, <a href="/facts/Medicine/2fnp90Je">medicine</a>, and <a href="/facts/Artificial_intelligence/lJGauQwX">artificial intelligence</a>, in particular <a href="/facts/Generative_pre-trained_transformer/myah4Tjj">generative pre-trained transformers</a>. </p><p>In economics, it is theorized that initial adoption of a new GPT within an economy may, before improving <a href="/facts/Productivity/yXlzAjC2">productivity</a>, actually decrease it, due to: time required for development of new <a href="/facts/Infrastructure/QJvbsSpl">infrastructure</a>; <a href="/facts/Retraining/P2ue1CRr">learning costs</a>; and, <a href="/facts/Obsolescence/IrFKfFja">obsolescence</a> of old technologies and skills. This can lead to a "productivity J-curve" as unmeasured intangible assets are built up and then harvested. Impending timeframe to utilize the latent benefits of the new technology is deemed a <a href="/facts/Trade-off/xY3nXnJN">trade-off</a>. Spin-out firms/inventors from organizations that had developed GPTs play an important role in developing applications for GPTs. However, it has been observed that the level of cumulative innovation in GPTs diminishes as more spin-outs into application development occur. </p>