One of the biggest mistakes you could make now is to underestimate the Internet of Things, says Cisco's Rowan Trollope. For many companies, embracing the IoT is crucial for their survival. "This is a life or death issue for most of our customers. They have seen what has happened with Uber and taxi companies and with Netflix and Blockbuster," Trollope explained at Cisco Live. Fortune 500 companies are not immune to this type of disruption. In fact, research from Cisco and the Global Center for Digital Business Transformation indicates that digital disruption could disrupt four out of 10 businesses in the next five years - a pace that could be the fastest in history.

Meanwhile, the IoT is quietly transforming the world and notable companies like UPS, GM, Boeing and Starbucks, and industrial manufacturers like ABB are already embracing the technology. Practically every big tech company has made the IoT a big part of their business strategy. “Vertical by vertical, we are seeing tremendous transformation,” Trollope says.

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