Data is the new currency, Hewlett Packard Enterprise president says

By FOX BUSINESSFOXBusiness

Hewlett Packard Enterprise President: Data is the new currency

Hewlett Packard Enterprise President Antonio Neri on the mounting importance of data in the tech sector, investment in technology, 5G and concerns about the server and storage market.

Hewlett Packard Enterprise President Antonio Neri said that data is the new currency.

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“We live in an incredible time—every business has been disrupted by the digital transformation. The core of that transformation is the explosion of the data we are creating,” said Neri to FOX Business’ Maria Bartiromo during an exclusive interview at the World Economic Forum on Thursday. “We call data as the new currency.”

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In Neri’s opinion, data presents companies with a “massive opportunity.”

“And that data has value,” he said. “And enterprises are looking to attract that value much faster than ever before because people who can get inside faster will win.”

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HPEHEWLETT PACKARD ENTERPRISE COMPANY16.02+0.15+0.95%

Neri added that 2018 was “very strong” for investments in data services.

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“We saw an increase in spending in '18 driven in security and more compute capacity as well as storage capacity around this data,” he said. “But also we saw the spending moving in a different direction, like for example, new technologies like AI machine learning to extract the value of the data.”

And although there are “signals of a slowdown,” Neri sees “good momentum” going forward and expects data spending to continue to outpace compute power.

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