LIVE FROM GSMA MOBILE WORLD CONGRESS 2014: John Chambers, the chairman and CEO of Cisco, hyped up the Internet of Things space by claiming it has the potential to generate $19 trillion worth of profit and economic benefits over the next decade, with $14.4 trillion driven by the private sector and $4.6 trillion by the public sector.
“If you really use these devices properly you begin to see the profit opportunity,” Chambers said in his keynote presentation looking at how services on smartphones, tablets and televisions can all be brought together in the homes of consumers.
“I really think it’s going to be about the battle for the internet of everything,” added Chambers.
The Cisco chief likened the integration of on-screen services and entertainment to the efforts of Israel to become a digital country, Barcelona’s integration of mobile technology, and the use of mobile in retail.
“If we only do single applications within a home or city, you don’t get the economic payback. The key point here isn’t about connectivity – it’s about connecting with people, with processes, and with data,” he explained.
He added that the companies that will win in the multiscreen home will be those able to connect devices and services together effectively: “If you don’t play architecturally across the home, then you get left behind.”