Betting
big on the ‘Internet of Things’ as the third major wave in technology
space, IT major TCS’ chief N Chandrasekaran has said that going digital
was no more an option, but a default now.
While
digital economy and emerging trends in the technology space remained a
key point during various sessions at the World Economic Forum at Davos,
Chandrasekaran said ‘Internet of Things’ (IoT) would transform every
company, industry and even the society going forward.
Taking
over as the chair of the IT governors steering committee of the WEF,
Tata Consultancy Services’ Managing Director and CEO said: “Going
digital is no longer an option for all of us, it is the default.”
IoT is the interconnection of uniquely identifiable and embedded computing devices within existing Internet infrastructure.
As
the chair, Chandrasekaran will work with WEF and CEOs of other global
IT companies in 2015-16 to define an agenda of priorities for the IT
industry, as they help other industries navigate an era of
transformational change.
As
per the discussions here, over 50 billion devices are expected to be
connected to each other by 2020, driving a large-scale re-imagination of
how societies live, interact and do business.
In
his opening remarks during a Harvard Business Review breakfast session
on IoT, Chandrasekaran said: “The Internet of Things will transform
every company, industry and society.
“This
is the third wave of the connected economy ? the first wave through the
world wide web allowed sources of information to be connected.
“In
the second wave, the social web allowed for individuals to connect, and
now in the third wave, have IoT connecting multiple electrical and
electronic devices across homes, offices, factories and cities.
Posted by : Gizmeon
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