The UK is at the forefront of connected devices with "connected things going faster in the UK than anywhere else in the World," according to Phil Smith, CEO for Cisco UK and Ireland.
Addressing a crowd at Interop London 2015, Smith said Cisco expects the average network speed to go up on average to 50mbs by 2019 with 40% of the UK’s connected devices being M2M based.
Smith said: "IoE is everywhere, now, and accelerating."
He took on smart cars saying that many cars already have a hundred million lines of code and "with sensors we will get a real sense of realty".
Smith told the audience that two years ago he crashed his BMW but when he "called the police, they said the car already had told them I had an accident".
According to the CEO, £34 billion are spent every year on car accidents in the UK, 90% of it down to human error.
He said: "Imagine if those cars are autonomous, which means potentially cut out the human error saving money.
"Although, there are a huge number of things that need to be sorted in the autonomous car, like security and how we are going to handle the data for example."
Another concept mentioned by the CEO was Light as a service (SAAS), where smart grids can save councils money by changing lights to LED systems that switch on only when someone passes by.
Cost savings will also impact the NHS, which could see a reduction of £200 million by using big data extracted from sensors, said Smith.
He added: "By 2019, 40% of all the data in the world will come from sensors. This information can save £200 million for the NHS when they analyse big data with analytics for example.
"Sensors hold very powerful information. As all these devices get connected, we then have the network itself acting as a sensor."
In retail, the CEO mentioned a shopping centre in Leeds using connecting engagement tools like customer video walls, footfall heatmaps, and connected lightning and escalators that work as a whole.
Smith said: "Overall, it improves the organisation’s efficiency."
