A decade ago, the number of devices that were connected to the internet was less than a billion. Now, the number is an overwhelming 20 billion and bound to increase in the coming years. Mobile computing, driverless connected cars and interactive refrigerators will be a reality in the years to come.
Since 1980, John Chambers, the executive Chairman of Cisco Systems became seriously involved in the internet infrastructure. This week, while on a Doha trip he was asked about the future of internet, what economies will be the leader in the next internet evolution and whether the Arab world has the potential to advance over other countries in terms of innovation.
Chambers presented his digital outlook for the future wherein the impact of the internet will be 3 to 5 times in the digital era. It can be called as the Fourth Revolution of technology or digital revolution because every country, city and company all over the world will turn to digital.
In terms of economic benefits, the digital revolution will generate about $19 – $21 trillion or 1 to 4% of the GDP of every country in the world. It will transform every city, country and industry and when the transformation is done right, it can be inclusive across the 7.5 billion world population.
France and India are making the effort to find creative methods to connect their societies. The Arab world will leapfrog and skip a generation in leadership which can probably bring peace in the Middle East through the power of digitization. Start-ups and middle-sized businesses will become much larger. This can be a dream or a reality.
According to Chambers, when Cisco started in 1984, there were only 1,000 devices connected to the internet. Today, there are 17 billion devices. In 10 years, the number of devices will likely reach 500 billion. The end result will be new business models.
If the goal of a business is efficiency, an indispensable tool is payroll management system that takes care of record keeping, payroll deductions, balancing and reconciling payroll data and verifying the accuracy of the payroll. When this function is automated, HR becomes more efficient and productive.