Back a few years ago, you'd need a 3 day course to learn about conference call setup. Today, it's easy. Most of these services are automated where you don't need to even hold on the line for 10 minutes. It can often be done via the internet.

Originally the conference call was limited to businesses paying exorbitant fees to the telcos. For business, it still made sense economically because the costs were less than the travel costs involved in bringing the people together. Additionally, significant time savings are involved, both in terms of travel time and in being able to communicate fairly rapidly to an extended group.

Telcos then extended their market by providing conference calling services to home consumers for an added fee. For some, it made sense to be able to bring a family or group with common interests together easily, usually to plan some physical event.

With the expansion of the internet, and in particular, the increasing availability and decreasing pricing for high speed internet access, conference calling has expanded far beyond its original uses.

For business, it remains a vital tool and has, actually, become far more useful as prices fall and the ease of use increases. Real time audio/video conferencing is already in use (and in some organizations has been for quite some time). As the cost of bandwidth decreases and the technology underlying audio-video transmission over networks improves, true real-time video conferencing will increase dramatically.

From: http://www.conferencecallogy.com/Conference-Calling-Evolved.html