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Eric Schmidt Google chairman says: "Internet will disappear"

Schmidt was also of the opinion that advances in technology will create a wave of new jobs and dismissed suggestions that innovation threatened a generation of workers.

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Google's executive chairman, Eric Schmidt, has predicted that the internet as we know it will soon disappear, but the new technology will lead to more jobs for people.

Schmidt said this on Thursday, January 22, 2015, while speaking at the World Economic Forum at Davos, Switzerland.

"There will be so many sensors, so many devices, that you won't even sense it, it will be all around you," he said. "It will be part of your presence all the time. Imagine you walk into a room and… you are interacting with all the things going on in that room."

According to him, the move would be a big opportunity for technology firms, saying: "A highly personalised, highly interactive and very interesting world emerges."

Schmidt was also of the opinion that advances in technology will create a wave of new jobs and dismissed suggestions that innovation threatened a generation of workers.

He said that for every job created in the sector, there were seven more created in non-technology roles, and claimed that a digital single market in Europe would help to create 4 million new jobs.

The panel, which was titled: The Future of the Digital Economy, also featured Facebook COO, Sheryl Sandberg and among others.

On the sort of high-level panel only found among the ski slopes of Davos, a panel bringing together the heads of Google, Facebook, Microsoft and Vodafone sought to allay fears that the rapid pace of technological advance was killing jobs.

"Everyone's worried about jobs," Sandberg admitted. With so many changes in the technology world, "the transformation is happening faster than ever before," she acknowledged.

"But tech creates jobs not only in the tech space but outside," she insisted.

Schmidt quoted statistics he said showed that every tech job created between five and seven jobs in a different area of the economy.

Yahoo's Marissa Meyer addressed the issue of regulation.

"I like Tim's idea better of the beneficent marketplace," she said and spoke of fellow panelist and computer specialist ,Tim Berners-Lee, known as the inventor of the World Wide Web.

Asked how Yahoo stores and handles client records, she said the online giant "changed the way we store and communicate data" after Edward Snowden and also changed encryptions between data centres.

"We have a very good track record for standing up to what's not reasonable," she added.

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