Every business needs to “go digital.” Data about customers, competitors, suppliers, and employees are exploding. Ninety percent of all data were created in the past two years. By 2016, there will be 3 billion Internet users globally, and the Internet economy will reach $4.2 trillion in the G-20 nations.
No company or country can afford to ignore this phenomenon. The fact is that we have entered the “second half of the chessboard,” where the scale and speed of change are indelibly altering industry structures and the way that companies do business.
The “new” Internet is different in many ways from the old Internet. (See the exhibit below.)
These developments have consequences for companies and policymakers alike.
More than 15 years after the rallying cry was first heard, the Internet really is “changing everything.” As Walter Wriston, the legendary leader of Citibank, said in the 1980s, “Information about money has become almost as important as money itself.” That is true for every business today.
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