Internet companies are taking a dangerously short-term view and ignoring big potential risks and opportunities as the online medium becomes a more central part of everyday life, according to the man who invented the worldwide web.

Sir Tim Berners-Lee, who now oversees the development of new technology standards for the web as head of the World Wide Web Consortium, also criticised the lack of support for long-term research into these issues, which he said marks a break from the traditional approach technology companies have taken.