In a Palo Alto Research Center video presentation, SFI External Professor W. Brian Arthur explains how technology advances are signaling the emergence of a second digital economy that will change the complexion of culture and business forever.

Digital technology runs deeper than merely providing computation, internet commerce, and social media, Arthur says. It is silently creating a second, unseen economy that is deeply interconnected, invisible, self-configuring, and intelligent -- and this, he argues, is changing the ways business and the economy are structured.

Watch the PARC video (65 minutes)

Read Arthur's McKinsey Quarterly essay and other coverage (October 2011)