AI will wipe out half of Fortune 500 executives: Chambers
John Chambers, who led Cisco through the internet boom, says artificial intelligence is moving so fast that "you are probably going to see 50% of the Fortune 500 companies disappear and 50% of the executives of the Fortune 500 disappear."
He called this shift "five times the speed" of what he saw during the early internet days.
Chambers's advice for companies
Chambers warns that entry-level roles will be hit hardest by AI, but companies willing to evolve could see productivity jump by up to 10% each year.
His advice: rethink your business model and how you deliver products if you want to stay in the game.
US and India to lead global AI innovation
Chambers is now a venture capitalist and chairs the US-India Strategic Partnership Forum.
He believes both countries will drive global AI innovation for years, predicting that the US and India will lead the world in developing and using AI.