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IT trade body Intellect has warned that although technology cannot solve all of the problems in the economy it could spur productivity gains and counter the decline in growth rates since the recession began.
Intellect quoted figures showing that productivity needs to increase by 30% just to get it to pre-recession levels of GDP growth and kicked off its 'Bootstrap Recovery' report which outlines measures that will help get growth going.
The steps it recommends include exploiting technology across both private and public sectors and the development of a policy framework "that underpins tech-enabled productivity growth".
Antony Walker, Intellect's director of strategy, said that decreasing productivity threatened to derail any prospects of a recovery.
"These are tough time, but we have the knowledge, skills and capabilities in the UK to pull ourselves up by the bootstraps and rebuild out economy," he said.
"Technology isn't a panacea, but used smartly it can generate productivity gains that compound over time and make the UK more competitive in export markets and a better place to invest. That will generate jobs and get our economy moving," he added.