Speaking about cloud gaming and the future of consoles, Nvidia's GeForce Grid Cloud Gaming manager Phil Eisler told VentureBeat: "They say this is the last console, and I am certainly a believer in that.
"The last one is almost 10 years old now in terms of the technology," he goes on to say. "As we go through time, the good thing about cloud gaming is it's going to get better every year.
"One of the reasons we're investing in it is we see that there are some issues today, but they're all solvable and they're all moving in the right direction.
"Bandwidth is going up. The cost of server rooms is going down. We're bringing latency down. The experience will just get better and better every year, to the point where I think it will become the predominant way that people play games.
"The average gamer playing on an Xbox today with a standard television is probably experiencing 150 to 200 milliseconds of latency, and that's what they're used to playing with every day," he said.
"People worry about the network latency, but actually, in the whole pipeline, it's the smallest piece. Our monitors that we work with today are under 10 milliseconds of latency. We think that, working with smart TV manufacturers, we'll be able to cut that time down.
"It's going to be possible very shortly to have a cloud-rendered experience that has lower latency than the current console plus standard television experience."
Rumours continue to spread about the next Xbox and PlayStation consoles. Developer kits for the next Xbox are said to already be in production at the Texas branch of Xbox 360 manufacturer Flextronics.
The system itself will reportedly be six times more powerful than the current Xbox 360.
Previous reports have said that Microsoft's next console will launch in two different editions, one of which is codenamed 'Loop', and will be "far cheaper" and more focused on the Kinect system.
The next PlayStation, codenamed Orbis, has received some rumoured specifications, including two custom processing chips.
Nintendo will be the first to launch a next-gen console with the November release of the Wii U.
Watch Digital Spy go hands-on with the Wii U below: