Every business has been disrupted by the digital transformation, says Hewlett Packard Enterprise President and CEO Antonio Neri. With that disruption is an explosion of valuable data. “That data has value,” says Neri. “Enterprises are looking to extract that value much faster than ever before because people who can get inside faster will win. We see that as a massive opportunity.”

Antonio Neri, President and CEO of Hewlett Packard Enterprise, discussed how the explosion of data, especially with the advent of 5G, is causing companies to invest in new technologies like AI and machine learning in order to extract maximum value from their data. Neri was interviewed by Fox Business at Davos 2019:

Extracting Value From Data is a Massive Opportunity

We live in an incredible time. Every business has been disrupted by the digital transformation. Occuring with that disruption is the explosion of the data we are creating. You just made a comment that data is the new oil. We say that data is the new currency. That data has value. Enterprises are looking to extract that value much faster than ever before because people who can get inside faster will win. We see that as a massive opportunity.

We are coming out of 2018 which was very strong. We saw an increase in spend in IT which was driven by security, more compute capacity, as well as storage capacity around this data. Also, we see the spend moving in a different direction. For example, new technologies like AI and machine learning to extract the value of the data. We see good momentum. Obviously, we see some signals for a little bit of slowdown. However, a little bit of slowdown doesn’t mean everything is going to stop. It’s actually still very strong.

Companies Are Digitizing Their Enterprises

I see companies putting more money into deploying new architectures like cloud and mobility. We live in a mobile-first approach. Companies are digitizing their enterprises making their enterprises much more efficient with this new technology.

Basically, they are moving faster than ever before. So we are actually very optimistic about the future. That data will continue to outpace the compute power which means that money will be spent in catching up with that need to process all of that data in real-time.

5G Accelerating the Digital Transformation of Every Industry

There’s obviously going to be a big investment in the telecommunications space to lay all this infrastructure. 5G actually favors the movement of data which means it is going to accelerate this transition and digital transformation of every industry. Last year at this event we talked about the Industrial Revolution 4.0. 5G will enable that because everything will be connected, everything will ingest data, and everything will process data.

We are very optimistic about the future of spending and the transformation of the business using this new technology. We think we are well positioned for the future and I think we have the portfolio to compete and win.