IMD International

Embracing the Internet of everything

Thierry Maupilé tells how to prepare for the third wave of online connection at OWP

November 20, 2014

"Within the next twelve months, there will be more devices connected to the internet globally than the human population", said Thierry Maupilé, IMD Executive-in-Residence and Head of the Strategic Ecosystem Group at Cisco, during his presentation at IMD's Orchestrating Winning Performance (OWP) Program in Singapore.

With approximately 70% of the world's internet infrastructure created by Cisco, Maupilé is well placed to discuss the evolution of the internet from its first wave of connecting computers, the second wave of connecting people, and now in the third wave, connecting everything else.

The concept of connecting 'everything else' is something that will permeate across all industries, creating a wide array of new challenges and opportunities, asserted Maupilé. He said, "Hundreds of thousands of devices are connecting to the internet every day. Lowering technology and bandwidth costs are driving the economics of the internet, which is creating unlimited potential."
 
The rise of the internet of everything is something that is shifting from hype to reality at a rapid rate. "We're moving past the early adopter phase. The dropping cost of tech is allowing companies to justify including sensors in more infrastructure and products, and this is creating the right conditions for an opportunity for the internet of everything to substantially realize itself over the next 5-10 years," he said.

Access to high-speed broadband internet is the key to the ability for businesses to take advantage of the rise of the internet of everything, Maupilé said. He stated during his session that there is a strong correlation between a nation's GDP and its internet penetration, and therefore the ability to innovate and react to this third wave of online connection.

"The internet is vital for any country that wants to drive economic development, and with 6 billion people on the planet, and only 3 billion with reliable internet access, there are many people, countries and businesses that currently lack the resources to adapt to this evolving landscape," he said.

Maupilé referred to initiatives such as those by 03B, which stands for the 'Other 3 Billion,' that look to close this internet penetration gap by providing affordable and accessible high-speed internet to the globe, a service that is particularly valuable for the southern hemisphere, which contains 90% of the non-connected population.

In the connected world, the convergence of mobile devices, social media, the cloud, and big data is driving digital disruption that is creating the need for businesses to adapt and reinvent themselves. In the modern app economy, where 40% of fortune 500 companies are predicted to no longer exist in a decade, businesses must be prepared to undertake a digital transformation journey, and apply technology in innovative ways if they are to survive in the future of the internet of everything.

IMD's Orchestrating Winning Performance (OWP) program runs ever November in Singapore. For live insights from the program follow on Twitter at #OWP2014 or check out OWP pictures on IMD's flickr account.


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