Why Should You Care about 5G?
“There's a lot that 4G can do already, but there are cases where the high reliability, high availability, and low latency of 5G make a tangible difference.” - Leo Gergs, Senior Analyst, ABI Research
Spectrum 5G has completely changed the dynamics of several industries, ranging from healthcare
to automobiles. The impact of 5G on the healthcare industry has been humongous. Remote diagnostics and procedures, e-health, and responsive wearables will be available in the healthcare industry, and AI assistants
may help those with disabilities. Companies like Immersive Rehab, a provider of interactive physiotherapy, are already considering how 5G may improve their services, and 5G is being tested in numerous trials like the Liverpool 5G Testbed.
The 5G network has already made its way into the operating room with Telefónica. It is the first surgical aid system based entirely on 5G technology, with the cooperation of a Malaga hospital.
The 5th generation of the mobile network is the new global wireless standard that would facilitate a new kind of network designed to connect virtually everyone and everything.
Analyzing the Business Benefits of 5G
5G technology isn't just about speed; it is more about life-changing experiences through monumental technologies curated through next-generation networks. According to Deloitte's 2020 Study of Advanced Wireless Adoption, more than 90% of polled enterprise leaders consider advanced wireless technologies, such as 5G and Wi-Fi 6, to be "extremely vital" or "critically important" to their company's success.
"5G isn't just another tech innovation, it's the platform that makes other innovations possible."
Hans Vestberg, Chairman and CEO, Verizon
To answer the question of how 5G will help businesses, let's take a look at the points below:
Faster Connection Speeds
With speeds that are significantly faster than anything currently available, 5G networks have the potential to offer speeds that reach a staggering 10 gigabits per second. With this, businesses can transfer large amounts of data with ease.
Higher Device Capacity
Every growing business will see an increasing number of devices transmitting data simultaneously. 5G promises to handle the ever-increasing loads with a deployment that can support one million connected devices per 0.38 square miles.
Latency is a fundamental metric for organizations looking to get involved in the marketplace for the Internet of Things. With the lower latency offered by 5G, technology organizations can significantly improve their functionality as well as safety.
How Can the C-suite Navigate the 5G World?
By 2023, 5G will account for one-fifth of all mobile data traffic
, generating $12 trillion in hardware, software, and service revenue. In addition, 5G networks will considerably impact specific verticals like manufacturing
, mobility, cities, healthcare, and telecom companies, with the need to shift their mindsets and company cultures at large.
Users will be able to build 5G networks to give specific benefits at specific times to specific users, giving them new levels of flexibility. Network slicing, for example, enables operators to deliver dedicated virtual networks tailored to the service or consumer, using a single infrastructure to build several networks.
Actionable strategies the C-suite can follow:
Spend in the short term to be able to generate ROI in the long run
Target industry verticals based on specific 5G benefits
Discover and create new marketplaces
Refresh the company culture and instill entrepreneurial skills
Shift to a co-creation mindset
Leverage edge computing to reduce costs and enhance operational efficiencies
Share the learning and believe in continuous collaboration
How Does the Future Look with 5G Enablement?
All 5G enthusiasts must understand that the infrastructure cost is insignificant in comparison to the massive potential for return that 5G-powered innovations hold in transforming the world. 5G communications are all geared up to usher in a full-scale deployment of low-latency and monumental IoT across almost every industry. These 5G features will also help reshape the consumer experience by unlocking an entirely new era in the mobile experience
, IoT, and smartphones, along with unprecedented AR and VR capabilities
Spectrum 5G will undoubtedly change the whole user experience and take it to an entirely new level. With the kind of innovations taking place around 5G technology, it is definitely an exciting time for any business that focuses on new technology.
With the concept of wireless being the last bit of the puzzle, CIOs and C-suite executives only need to ensure that they pick suppliers who provide the best technology available to fulfill their business requirements.
Q1: What Is the Future of 5G?
A few more years into the future, almost every application and service will be available on the cloud. This is precisely when the 5G wavelength becomes the instrumental element in our daily lives.
Q2: How Can You Use the Existing Infrastructure to Accommodate 5G Integration?
The first and foremost step here would be to migrate the existing applications to be cloud-based at the earliest. The second step would be to recognize and understand how these applications are optimized for performance and user experience.
Q3: How Would 5G Help Businesses Grow?
Organizations have an open canvas to innovate using the high speed, low latency, and other advantages offered by 5G networks. With 5G delivering value in the enterprise, business leaders can view wireless technology as the key to the future.