We're seeing a lot of major companies as well as startups coming up with smartwatches that replicate a lot of the functionality you might have in your smartphone. Will it be as big a market as smartphones? Probably not, but it still can be a very substantial market.

We need to get smarter about hardware and software innovation in order to get the most value from the emerging Internet of Things.

Chips will continue to shrink, of course. We, along with other semiconductor companies, are continuing to push toward the next goal of 10 nm, but going beyond 10 nm will require the development of new technologies, materials, and manufacturing processes that are still being perfected.

I'm a perfectionist. And that's served me very well in my career. It allows me to handle these large, complex problems without letting things fall through the cracks... That is the mentality you have to have to attack these complex problems of chip design, for example, when you're overwhelmed with complexity.