"You have to constantly evolve your organisation and have the courage to change," says John Chambers, executive chairman of Cisco, who believes evolution is what is needed for companies to successfully move into the digitised world.
According to Chambers, 40% of Fortune 500 companies will not exist in a meaningful way in 10 years' time, because many will not be able to successfully execute a digital strategy.
There was a strong theme of reinvention at this year's Internet of Things World Forum (IoTWF), in Dubai, UAE, as industry leaders came together to talk about how to drive forward their IOT strategy and shared experiences of success.
"There is not a major industry or company in the world that is not being challenged by a new business model and a new technology model," says Chambers. "CEOs need to realise they must reinvent their companies and adjust for digitisation, or they will be left behind or become irrelevant."
As companies move into the digital era, private and public sector organisations are already rethinking how they will approach the shift in infrastructures, processes and outcomes on a grand scale.
"It is likely to disrupt every area of society and redefine sustainability. Digitisation has the potential to create a revolution in how we use resources, how we communicate, how we get work done and what we come to know about communities, ourselves and the world."
The smartest city in the world
Rabih Dabboussi, MD of Cisco UAE, says: "Talking with government and industry leaders at the Internet of Things World Forum, it is clear that we are seeing a whole new wave of innovations in IOT and digitisation that are already transforming business and society today."
The conference, held this year in Dubai, United Arab Emirates, hosted over 2 000 attendees from across the world, with keynotes by industry leaders from companies like Etisalat, Emirates, Visa, Intel and Siemens. In addition to the keynotes, the World Forum also featured breakout sessions, a hackathon, a start-up showcase, and smart city tours of the Dubai Design District (d3), which has connected transportation, education and healthcare across the city for a better citizen experience.
D3 has already implemented a wide spectrum of smart solutions and applications that use IOT technologies, which include lighting solutions, clean energy, surveillance cameras as well as environment sensors to measure carbon dioxide to limit emissions. Cisco says these applications are instrumental in making d3 one of the greenfields for IOT and smart and connected cities solutions.
"There was a real sense of excitement at the event, as leaders from across many industries inspire one another on what is possible, as well as what's already been achieved in Dubai's journey towards its vision of being the smartest city in the world by 2017," concludes Dabboussi.
Share