Tech industry will lead the way out of recession

The technology industry will play an important role in leading the US out of recession according to Steve Ballmer.

In an address to the North Carolina Technology Association the Microsoft chief executive said that the technology industry would play an important role in reviving the economy with research and development.

“There is an unnatural opportunity and responsibility to help drive the productivity and innovation that can let the economy come back and grow again,” Ballmer told the Charlotte Observer.

“It is a tough time, but it is a time for those of us in the technology industry to say, ‘Hey, it's our time. It's our time to do something great.'”

He pointed out that around half of the Fortune 500 companies today were launched in recession and said that the economic climate made it easier for technology companies with good ideas to get ahead.

“Nothing ever slows down,” he said, highlighting the need for research and development even in a down economy.

“There continues to be amazing change, and it's not just in the new things you see and read.”

Ballmer also outlined some of the new expansions of search technology that Microsoft would be rolling out. In particular the company is working on search technology that divines the user’s intent.

He gave the example of a search for ‘Chicago’, where the computer would check on the user’s usage patterns to determine if they meant the city, the band or the musical.