‘Disrupt or you will be disrupted’

dubai — While the proliferation of technology has created unprecedented opportunities for growth, its disruptive power also poses considerable economic challenges, whether it is the dislocation of jobs or the growing digital divide, said John Chambers in a session titled ‘A Digital World and the Benefit for All People’ on the final day of the World Government Summit.

Chambers, Executive Chairman of Cisco Systems, believes that as governments embark on the process of digitisation, they must ensure that this growth is inclusive and guarantee a better economic future for their populations His key message was: “Disrupt or be disrupted.” Predicting that 40 per cent of companies in the world will no longer exist in the next 10 years, he emphasised that it is essential for companies to reinvent themselves. “Companies that do not reinvent themselves will get left behind,” he said.

According to Chambers, the future of technology is not about robotics or drones, but about the tangible benefits worth US$19 trillion that digitisation can bring to the global economy. To implement this vision, Chambers said companies need to think exponentially, like startups. “Startups don’t think in small steps. They imagine what is possible and, without fear, they go for it.”

Chambers also highlighted the need for good leadership to ensure that digital growth is inclusive. “It starts with a leader’s decision to reinvent. You need a culture that embraces risk and is willing to change,” he said.

Citing the positive example of India’s Prime Minister Narendra Modi, he added: “Modi has to create 1.2 million jobs per month. He owns this vision and motivates his team to execute it. He truly believes he can grow the per capita income of people in India.”

reporters@khaleejtimes.com