Cisco boss warns of Net revolution

Corporates and world leaders are beginning to understand the importance of the internet, but the world must still prepare for the speed of change.

This was the message from John Chambers, chief executive of Cisco, in his keynote speech during this week's Supercomm event in Atlanta.

'It is your ability to use this technology internally and deliver the services to your customers that creates almost unlimited potential for growth and profitability, but it also creates an unlimited challenge because if you move too slowly you can definitely get wiped out,' he said.

He added that the internet revolution will take decades to emerge, as opposed to the Industrial Revolution which took hundreds of years.

Chambers said the driver for the internet is e-commerce and that consumers will lead the way. He added that he was surprised he was able to order a car online in 15 minutes.

'I arrived at the dealer and the car was there ready for me, in the right colour and model. I drove the car for 10 minutes, signed the contract and there it was. I will never buy a car the old-fashioned way again,' he said.