John Chambers, former CEO of Cisco, predicts a digital future where 40% of businesses will fail to adapt and, consequently, cease to exist within ten years. Chambers warns that the rapid pace of technological change will leave many companies struggling to keep up. He suggests the need for businesses to become ‘digital enterprises’, utilising the Internet of Everything (IoE) – a network connecting people, processes, data, and things.
Chambers stresses the importance of countries and companies embracing digitalisation to avoid being left behind. He cites France as a leading example, with its government actively encouraging start-ups and promoting digital innovation.
In the future, Chambers anticipates the rise of ‘disruptive’ companies, which rapidly gain market share by introducing new technologies or business models. He believes that every company will become a technology company, regardless of their industry.
Chambers also highlights the importance of cybersecurity, predicting that it will become a board-level discussion in every company. He argues that businesses must be prepared for inevitable cyber attacks and have robust security measures in place to protect their data and systems.
Despite the challenges, Chambers remains optimistic about the opportunities presented by the digital revolution. He believes that the companies and countries that can adapt and innovate will thrive in the new digital era.
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