The world has gone from only a small group of people having access to information to having everyone in all corners of the globe accessing every piece of the world's information, according to Google Executive Chairman Eric Schmidt.

Schmidt detailed that change and its impacts on sectors such as education, business and media in an interview with James Manyika of the McKinsey Global Institute.

Humans and machines are racing each other to find the most efficient way to carry out tasks, according to Schmidt, who says machines have largely replaced low-wage workers at grocery stores.

High-skilled, educated immigrants will hire people in America as well because businesses will want a share of uneducated people, Schmidt says.

Schmidt also discussed the impacts of three-dimensional printing, where users build their own products from different manufacturing materials.

Universities have largely driven 3-D printing but it has the potential to bring capabilities to machine, mine and produce the materials, Schmidt told Manyika.

Within the health sector, analytical computers are building models of human biology such as DNA in an effort to study how diseases work, according to Schmidt.

Firms and foundations are building DNA databases and aiming to hone on individual diagnosis of diseases and Schmidt believes this could eventually lead to technology where users press a button and the DNA sequences occur.