Sterling was at fault with the first of Zlatan Ibrahimovic's four goals in Sweden's 4-2 win over England in Wednesday night's friendly international at the Friends Arena.
But the Liverpool youngster responded by playing a part in the build-up to England's two goals from Danny Welbeck and Steven Caulker and looked at home on the international stage.
Gerrard, who won his 100th cap, said: "There were positives. We controlled the game until the 75th minute and you had a 17-year-old making his debut who I thought was brilliant.
"When I was 17, I was an apprentice at Liverpool cleaning boots in the changing room.
"It goes to show how far he has come in a short space of time.
"He put his mistake behind him. It's a learning curve. If there is one positive from making a mistake, it's a friendly match and it doesn't hurt you that much.
"He will learn from that. He has learnt really quickly in a Liverpool shirt and he will do the same for England.
"It won't be long before he is a regular and he is going to be a phenomenal talent."
Gerrard was not surprised that Sterling linked up so effectively with his Liverpool team-mate, Glen Johnson, down the right flank.
He was also impressed with two of the debutants in Leon Osman and Steven Caulker who became the first England player to crown his first appearance with a goal for five and a half years.
He said: "Raheem is a top player and top players link well. Certainly it is a relationship that will grow moving forward.
"There were other big plus points. Leon Osman, I thought he was really comfortable in possession.
"Steven Caulker did well, he also got a goal on his debut, so there are a lot of positives to take.
"With the squad we brought out, I thought we gave Sweden a really tough game."