Patrick P. Gelsinger, CEO, VMware (VMW)
June 6th, 2018 BaML Global Technology Conference
Well, if we talk about the three big hypes today, people talk about AI, IoT and blockchain. And I think, all of them are extraordinarily important and all of them are overhyped. People are talking about AI, which is nothing but good software and it’s now become AI, right.
People are talking about 30-year-old and 40-year-old embedded software businesses as IoT. It was a crappy 30-year-old embedded business a decade ago, and now it’s cool and sexy and it’s IoT [ph] one of them if (36:40) you’re talking about, right. And similarly, right, in blockchain, we have a lot of blockchain used cases, just a good database will do just fine. Right.
Now, all of that said and being a little bit jaundiced and this is 38 years for me in the world of technology right. I do think all three of those are profoundly important, right. I’ll just say profoundly important to the future. But many of the conversations that go on today and I’ll just say some of these I say as we technologist, I was talking to a CEO of another major technology company and he’s been fighting against some of the AI rhetoric. He says finally I just gave up. Right, I can’t. It was like we’ll call it [ph] AI 2 (37:21) even if it’s just good software algorithms and I do think there’s a fair amount of that going on. But that said hey blockchain, I think fundamentally an immutable distributed secure ledger that’s profound. I think it’s as important as public private key encryption was to security but we still have quite a long time and so we build out the used cases and the underlying technology.
We just announced some things that we’re doing in the blockchain area specifically scalability of blockchain. You know, right now, it has exponential compute requirements. It’s one of the most, I’ll say, compute unfriendly algorithms that has been born right over the last 20 years.
Well, we think we’ve solved some of those problems, right. We’ve also solved the order to deal with the issue of blockchain and other key issue. For some of those things, hey, it will be a cool technology but it’s way over hyped today