Is 5G Really the Game Changer We’ve Been Promised?

In 2019, 5G networks will roll out to some parts of the US, with the rest of the country following quickly. It’s expected that the 5G rollout will be faster than the 4G and that it will have an even bigger impact on the US economy. It’s estimated that 5G could enable more than $3.5 trillion in economic output in the US, supporting more than 22 million jobs. There will be increased demand for executive recruitment and training to develop 5G expertise. It’s estimated that 5G will create up to 3 million jobs. All of which sounds impressive, but why is 5G such a big deal?

5G combines an array of new network technologies and software to create a mobile network that is better than current networks in three main ways: 5G can carry much more data, it has much lower latencies, and it requires much less power. When I say “much,” I mean orders of magnitude. At its best, 5G can carry 1000 times the data of current networks with 100 times lower latencies. That means faster downloads to your phone — movies that download in seconds rather than minutes — but the real benefit of 5G is as an enabling technology for new platforms, services, and infrastructure.

Healthcare

Uninterrupted low-latency connectivity is a game-changer for healthcare monitoring and the provision of services over the network. We have already seen some of the benefits of connected smart devices to healthcare with products like Apple Watch, but lower latencies, higher bandwidths, and reduced power requirements will allow healthcare professionals to provide real-time monitoring to millions of people, improving their quality of life and reducing the need for in-person consultations.

Internet of Things

It has been argued that the Internet of Things is driving another industrial revolution, one that is reshaping how we manage people, logistics, and manufacturing. 5G is likely to accelerate that revolution, making it easier and cheaper to embed smart devices that can provide a greater volume of data in real time. 5G will also be key to automation and the creation of untethered production line, picking and packing, and delivery robots.

Autonomous Vehicles

Today’s autonomous vehicles are smart but limited. One of their limitations is their inability to communicate with each other quickly enough. If the science fiction image of hundreds of vehicles navigating as nimbly as flocking birds is ever to be achieved, vehicles need to be able to talk to each other and traffic management systems with low latencies — there’s little margin for error when controlling heavy machines moving at high speed. 5G promises network latencies in the area of 4 milliseconds, far lower than the 30 to 60 milliseconds of current 4G networks.

In this article, I have looked at three areas in which 5G will have a massive impact on our lives. The list could have been much longer and included smart cities, augmented reality, supply chain management, autonomous drones, fixed wireless broadband, agriculture, and more. Entrepreneurs and business leaders should be learning about the potential impact of 5G on the competitive landscape and on their market today, especially with regard to the recruitment of leaders and technical experts who can help businesses take advantage of new 5G markets.