Xerox was worried about this in the 1970s and 1980s when they were inventing the technology that would drive Windows and Mac computers for the next 30 years and counting. It was dubbed the Paperless office and as a result, Xerox did not pursue the technology for fear that it would undermine their copying business. Anyone who lived before computers became necessary in business and after can tell you computers multiplied office paper use.
While, it is conceivable that tablets will replace some paper, I doubt that it will ever completely eliminate paper for business. Sometimes nothing substitutes for scribbling tons of notes when brainstorming ideas and then spreading them out next to each other to see what floats.... Giving each worker 5-6 tablets to do this sort of thing is probably impractical