Cisco hopes to work its way into being the No. 1 IT and networking company in the booming Internet of Things (IoT) market, understanding that there is great potential looking ahead.
IoT-powered products are expected to enter households and offices at a rapid pace over the next few years, so Cisco wants to create partnerships and be in place to help other companies create their own products.
"It is the most fundamental change," said John Chambers, CEO of Cisco, during the Goldman Sachs Technology and Internet Conference. "You'd almost call it the second generation of the Internet. We're back in vogue. It's like the 1990s all over again."
There are numerous security-related concerns to widespread IoT adoption - something that isn't lost upon Cisco - and the company will help develop new solutions from the ground up.