The semiconductor industry is in its deepest trough - ever; the telecoms industry is in the middle of its biggest slump, but don't worry, says Craig Barrett, Intel CEO, a man with more confidence in the future "than any time in the last 26 years", Drew Cullen writes .

Calling on the IT industry to "innovate (its) way out of recession", Barrett today pointed to the Internet as the key technology growth driver. After the irrational exuberance of the dotcom era, after the inevitable disappointment and market turbulence, will come a period of sustained growth, he said, in a keynote speech at the Intel Developers Forum.

The "Internet is It", as Barrett puts it. It is the convergence, long predicted, now starting for real, of communications and computing. It is the vehicle for: information access; for ecommerce; for communication; for entertainment.

Full Story Why is Craig Barrett so confident?

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