5G is a developing standard and a set of technologies that include MIMO, the use of the millimeter wave spectrum, small cell technology, and improved network management techniques. Together, they…
Jump To:
This year, the 5G rollout begins in earnest. Verizon’s 5G network is available in parts of Chicago and other major cities. Sprint’s 5G network is up and running in Dallas, Houston, and several other locations. 5G-capable devices are from Samsung, Motorola, and LG are in stores or available for pre-order. Apple is expected to release its first 5G iPhone next year.
As of June 2019, 5G is nowhere near universal availability, but major carriers are aggressively expanding their network, and that means telecoms service providers, infrastructure providers, and app developers should be laying the framework for their business’s future in a 5G world. Here’s how:
Prepare for Business Opportunities
5G brings greater bandwidth, lower latency, and decreased power consumption. The revolution in the capability of mobile networks creates business, user experience, and technological opportunities. The businesses that are best prepared to exploit those opportunities will have a competitive advantage.
Technology leaders should be engaging with other executives to work out how 5G benefits and challenges existing profit centers and to lay the groundwork for products and services that exploit the capabilities of 5G.
Plan for Infrastructure Upgrades
The media tends to focus on the benefits of 5G for consumer and business users but less about the associated costs. It’s estimated that network-related capital expenditure will increase by 60 percent over the next five years. Rolling out new a new network, especially one that requires a dense distribution of small-cell stations and increased fiber backhaul, will be expensive.
It’s not just the network operators that will be required to upgrade infrastructure. 5G generates a lot more data, and that means data center operators, cloud platforms, and their customers will have to increase infrastructure investment to take full advantage of the opportunities.
Up Your Security Game
The Internet of Things (IoT) will be given a big boost by 5G, and that means businesses must up their security game. The state of IoT security within businesses is woeful, as we wrote in an earlier article. However, IoT security concerns go deeper than insecure devices installed on business networks.
As 5G-equipped smart devices find their way into every home and business, we can expect a massive increase in the amount of personal data moving over networks to be stored in data centers. That data must be moved and stored securely in line with strong privacy frameworks like the GDPR.
Start Technical Training Now
Qualcomm estimates that 5G will create 22 million jobs by 2035. Those jobs will be spread throughout the entire economy, but hundreds of thousands will be in technical roles directly related to 5G technology. If businesses are to take advantage of 5G business opportunities, their employees need to be prepared for the coming changes. Technical training in 5G and related technologies should be a priority.
Recruit Smart Executive Leadership
Everything we’ve discussed so far — planning, infrastructure upgrades, security, and training — will need strong leadership from executives with expertise in emerging technologies. If a business wants to be ready for the opportunities and challenges created by 5G, they should be looking to recruit technical executives with the knowledge and the talent to lead their organization as it moves to achieve its strategic goals for 5G.
