The world is going through a new "digital revolution" that could have 10 times the economic impact that the internet had, adding $19 trillion to the global economy, but the U.S. is getting left behind, the executive chairman of Cisco warned Thursday.
During a CNBC-hosted session at the Viva Technology conference in Paris, John Chambers outlined how countries such as Israel, India and France are leading the way in digitizing their nations, but the U.S. has no game plan.
"If you watch, the fundamental change that now is occurring in all society, the information age which went from 1990 to 2010, the U.S. was a key beneficiary of that, President Clinton rode it quite effectively with GDP growth, job creation. You're now about to see a digital revolution with five to 10 times the impact of the internet today," Chambers said.
"And so you are going to see every country, every city, every state, every company regardless of size, every home...and that will completely transform society. The economic benefits (are) probably $19 trillion and what surprised me is actually we see governments leading in this as opposed to business and France is at the forefront of that."