Robert Reiss: How important is understanding the evolving internet to CEO’s and their boards?
Dan Hesse: Mobile communications is arguably the most important technological development in the history of the planet. Cell phone users grew from zero to six billion in 25 years, the most rapidly-adopted technology ever. But the emerging “internet of things,” where wireless chips will be put into almost every object produced — vehicles, home appliances, clothing, health monitors, wearables and even into the human body, may be even more transformative. Cisco estimates 50 billion such connected devices will be in use by 2020.
The ubiquitous internet (sometimes referred to as the wireless or the mobile internet) changes everything! This mobile, always-on internet is transforming economies, education, language, health care, music, safety, privacy and the quality of life for the elderly and those with disabilities. CEOs and boards should understand these implications on the marketplace in which their companies operate. Imagine a world where a company, its products and its customers are connected 24/7. The customer relationship, the value proposition and the business model of every company and industry will likely be transformed. The winners and losers will likely be determined by who innovates most effectively to address this always-connected world.