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Pro Analysis

Exclusive PRO Talks: Tech billionaire Tom Siebel explains why firms need big data to survive

Software billionaire Tom Siebel shared his views on why it's so important for technology and business to integrate in an exclusive interview with CNBC PRO's Mike Santoli.

"Let's look at the facts: In the last 50 years, if we look at the Fortune 500 50 years ago, 90 percent of those companies are gone. If we look at the companies that are in existence today in the Fortune 100, in 30 years 15 percent of them are gone," he said.

"These new business models, I mean – think about Tesla, think about Amazon, think about Facebook, think about Snapchat. You know, many of these companies that do not make this transition to this new kind of generation of what's going on – candidly, they're going to be out of business."

Siebel is the Chairman and CEO of C3 IoT, a fast-growing computer software company that provides a platform for corporations to develop big data operations, predictive analytics, artificial intelligence, and internet-of-things applications. As founder of Siebel Systems, he built the foundation of the customer relationship management market.

The CEO also discusses:

  • The ethics of big data.
  • How technology will drive unemployment.
  • Developing technology to serve health care.