NOTHING NEW UNDER THE SUN (ALMOST)
24th May, 1954 : The electronic brain, hitherto confined to scientific laboratories, is moving into the office. The International Business Machines Corporation (IBM) has announced the development of a model specifically for business use. The machine will consist of a central arithmetic and logistic unit that will process information from a bank of cathode-ray memory tubes and from data stored on reels of magnetic tape, each able to hold as much information as a large city telephone directory. At ten million arithmetical operations an hour, the machine will raise existing calculating speeds thousandfold. IBM plans to rent the machines rather than sell them. A typical installation will cost $25,000 a month.
[Are we, people, better off now?]