Schmidt concluded, "A highly personalized, highly interactive and very, very interesting world emerges."
The Google executive went on to talk about the problem of Google's market dominance, which has led to legal battles such as the antitrust case related to the mobile search market.
"You now see so many strong tech platforms coming, and you are seeing a reordering and a future reordering of dominance or leaders because of the rise of apps on the smartphone," he said.
"All bets are off at this point as to what the smartphone app infrastructure is going to look like as a whole new set of players emerges to power smartphones, which are nothing but supercomputers.
“I view that as a completely open market at this point."