Cisco’s giant customer conference, Cisco Live, began on Monday in San Diego and was the last time that 20-year outgoing CEO John Chambers would impart his vision in a keynote speech.
The upshot: He says more than one-third of businesses today will not survive the next 10 years. The only ones that will survive will turn their companies into digital, techie versions of themselves, and many of will fail trying.
“40% of businesses in this room, unfortunately, will not exist in a meaningful way in 10 years,” he told the 25,000 attendees, adding that 70% of companies will “attempt” to go digital, but only 30% of those that try it “will be successful.”
“Either we disrupt or we get disrupted,” he said.