Cisco CEO John Chambers at the World Economic Forum
A digest of the top business technology news stories from the past week.
Economic impact of the ‘Internet of Everything’ will be US$14trn – Cisco’s Chambers
The potential economic impact of the ‘Internet of Everything’ economy is US$14trn for global private-sector businesses in the next 10 years, Cisco CEO and chairman John Chambers has predicted.
Cisco defines the Internet of Everything as bringing together people, process, data, and things to make networked connections more relevant and valuable than ever before – turning information into actions that create new capabilities, richer experiences, and unprecedented economic opportunity for businesses, individuals, and countries.
The five main factors that Cisco claims fuel the Internet of Everything value at stake are asset utilisation (reduced costs) of US$2.5trn; greater labour efficiencies of US$2.5trn; eliminating waste in supply chain and logistics of US$2.7trn; more customers through better experiences of US$3.7trn; and innovation/reduced time to market of US$3trn.
The main technology trends contributing to the Internet of Everything include cloud and mobile computing, big data, increased processing power and business economics, like Metcalfe’s Law.
Eircom expands fibre rollout plan to 1.2m homes, Q2 revenues fall 6pc
Despite falling revenues, Eircom has revealed it has expanded its fibre rollout plan from 1m homes to 1.2m homes – or 60pc of homes and businesses in Ireland.
The company reported that revenues in the second quarter fell 6pc year-on-year to €361m, down €23m.
However, the company did show progress in reducing operating costs by 7pc to €157m.
EBITDA decreased by €10m to €119m for the quarter, down 8pc on the same period a year earlier.
Google to open its own retail stores this year?
Move over Apple stores, Google stores are on the way, and just in time for Christmas shopping. Maybe.
If a report by 9to5Google is to be believed, the internet search giant has plans to open retail stores in major US metropolitan areas in time for the holiday shopping season.
Bosses at Google have apparently decided that retail stores will be required to attract customers, especially when Google Glass launches.
Google Glass are those eyeglasses with smartphone-like capabilities and Google reasons that the average consumer – as opposed to hard-core techies – will need to try them on first.
Alcatel-Lucent names new Bell Labs president
Communications giant Alcatel-Lucent has appointed George ‘Gee’ Rittenhouse as president of its R&D subsidiary Bell Labs to replace Jeong Kim, who is returning to his native South Korea to serve as the country’s new Minister of Future Creation and Science.
Rittenhouse, currently COO of Alcatel-Lucent’s technology platforms business, has extensive experience within Bell Labs, as head of Bell Labs Research and in overseeing all Bell Labs research centres and activities for Alcatel-Lucent.
He has also chaired GreenTouch, an industry-wide consortium launched by Bell Labs whose goal is to improve the energy efficiency of ICT networks.
250 medical device jobs to be lost at Abbott in Clonmel
Medical devices company Abbott is to cut 250 jobs. The company said the reductions were necessary to respond to the changing needs of the competitive environment.
Abbott employs 1,400 people at the site in Clonmel, Co Tipperary. It is understood that 200 of the jobs will be cut from permanent staff and up to 50 further contract workers won’t have their contracts renewed.
It is understood that the Clonmel operation will continue to play a strategic role in the company and will be transitioned to focus on the manufacture of new vascular medical devices that will require a capital investment to incorporate new equipment.
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