This question is a powerful one and can be the subject of books. The proliferation of information technology helped to develop the globalized approach that is present in our world today. It helped to link both America and the so called "developing world." The ability to network and connect both of these settings have helped, to a certain extent, to close the gap between these worlds. It is now at the point where terms like "First World" and "Third World" are no longer used to describe nations. As with all advances, some of the results were not effectively predicted. The emergence of a "borderless" world has led to outsourcing of jobs and trying to fully grasp this reality has been something that has required new innovations to be developed. The fact that the critical point of differentiation is the possession of a computer with an internet connection has helped to change life in the modern setting.
That's a very large question, but I can get you started. Consider the affect of the information age just on education, where resources from all over the globe are now available to every school as long as they have the internet. Consider the amount of business Americans and others do over the internet with that communication. We can find out information much more quickly now and we have a 24 hour news cycle instead of newspapers and the evening news each night.
American leaders live under a microscope since whatever they do is recorded in real time and broadcast immediately. Our lives have also become much more convenient with access to addresses, phone numbers, directions, reservations, research materials, etc., and through our cell phones if we want to. We can even get help with our homework on line, right?
On the negative side, humans in general and Americans especially are more plugged in to technology than ever. Some say this has hurt our interpersonal skills, and added little but convenience. We have come to depend on instant access to information without a significant value added benefit.
In the developing world, they can access business and education opportunities that would not exist otherwise.
There are a lot of ways to answer this question.
Some people in the US have been hurt by this as jobs have gone overseas. Because of internet technology, a number of jobs can be done by people in foreign countries and then sent by internet to the US. This is stuff like doing tax returns, things like that.
Most Americans have been helped to some degree because they have access to more information on the internet. The internet has made things like shopping much easier for Americans, especially those like me in pretty rural areas.