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Cisco CEO predicts new era of productivity
By siliconindia
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Thursday, 25 September 2008, 16:32 IST
Bangalore: The next stage of Internet development will trigger a renewed productivity boom, much like the one seen in the 1990s, with improved collaboration leading to better and faster decision making, said John Chambers, CEO of networking giant Cisco.
He was speaking at the World Business Forum in New York City. Outlining his vision for the next stage of business development, he argued that the implementation of social networking technology will amount to a new business model for corporations. According to him, the U.S. productivity will rise to three to five percent in the next decade, returning to the boom of the 1990s.
This will be led by the social networking culture that has been driven by young people.
Specifically, Chambers pointed to such technologies as 'TelePresence' that businesses can use to have video meetings with customers and co-workers, allowing companies to speed decisions and cut costs. TelePresence has allowed him to meet with twice as many customers while spending half the time on the road. This saved $150 million for Cisco last year and $100 million this year.
Chambers also pointed to the opportunities for increased growth due to technology, saying that the more efficient communication and decision-making lead to compounding growth.