We overestimate the impact of innovation in the short term but...
My Times column on Amara's Law:

Alongside a great many foolish things that have been said about the future, only one really clever thing stands out. It was a “law” coined by a Stanford University computer scientist and long-time head of the Institute for the Future by the name of Roy Amara. He said that we tend to overestimate the impact of a new technology in the short run, but we underestimate it in the long run. Quite when he said it and in what context is not clear but colleagues suggest he was articulating it from some time in the 1960s or 1970s.