Dubai: Cisco said that internet of everything (IoE) will create $4.9 billion in economic benefit and value over the next five years in Dubai.
Out of the $4.9 billion, Rabih Dabboussi, General Manager and Managing Director of Cisco UAE, said that $3.7 billion value will be generated from the private sector and $1.2 billion from the public sector ($520 million in public sector productivity, $300 million in transportation, $120 million in city management, $260 million in others), based on 17 used cases.
Dubai right now has more than 500 used cases of IoE.
Globally, he said that internet of everything will create $19 trillion in global economic benefit and value over the next decade.
In order for organisations, cities and communities to fully embrace the IoT today and the IoE of the future, he said that institutions will need to become digitised. Becoming a digital business requires an agile IT model, and the ability to rethink core processes for the digital era.
“Embracing new security, cloud, mobile, social and analytics technologies are required to fully digitise businesses,” he said.
Dabboussi said that most organisations are not realising the full value from their digital projects because they fail to recognise that their digital strategy and business strategy are becoming one and the same.
