The company that uses IT as a strategic advantage will do much better than the company that does not. Right now we just made the basic components: we have a database, OS, and compiler. Now we have much bigger issues to deal with: what do we do with these things?
We can make decision support software. Custom applications to data mine a company's data so that they can make better decisions. An example of this is Harrah's who used a data mining program to determine the best place to place things in its casinos. The possibilities are endless because people will continue to innovate, and future innovation will require more custom applications.
One more difference between electricity and IT: a device that I bought 5 years ago does work today. A program was written 5 years ago for windows 98 might not work on Windows XP. Things do become obsolete and require reworking in IT. Yes, you can hold on to your IBM AS/400s forever, but you will also have to pay a staff a LOT more money on upkeep in the long run than if you can upgrade to better and more open systems.