Many U.S. companies and industries will have to shift their focus and embrace a "new online lifestyle" in order to stay competitive, says Google's CEO.
Many industries, including newspapers and music labels, have adapted slowly to the internet, Google Chairman and CEO Eric Schmidt told the Economic Club of Washington. The internet will bring even more changes in the coming years as users increasingly move from traditional to cloud computing, he predicted.
Schmidt called the move to cloud computing, where a user's information is kept on third-party servers, "a permanent shift" that will have profound implications for many businesses.
Source: Computerworld, http://computerworld.com