10 Ways 5G Technology Is Impacting Business and Consumers
If you have paid close attention to the advertisements in the last few months, you must have seen telecom companies and tech gurus talking about 5G. However, most of the time, they only talk about the enhanced internet speed and how consumers can avail of faster internet on their smartphones. However, in reality, 5G has the potential to do so much more. According to tech experts, 5G can unlock faster download and upload speeds. So, it can potentially bring revolution to the world and our workplace. We may not see the benefits of 5G until it is released globally. But it is certainly creating ripples in big data, entertainment, connectivity and many other sectors. On that note, here I discuss 11 ways the implementation of 5G is changing the world for consumers and businessmen –
- Promoting Remote Work
Covid -19 has transformed the world in many ways. Many of us now work remotely from home. With the help of 5G, people can now work while staying in the most-desired locations. The concept of staycations is becoming prominent, with high-speed wireless internet facilities becoming readily available. Working from home is also a convenient option for many other employees like new parents, employees having elderly patients at home, etc. With 5G, they can stay connected with the entire team seamlessly and provide a win-win situation for both employees and the organizations. The full implications of 5G are yet to be unlocked. But it surely means a radical change in the existing work culture.
- Augmenting Edge Computing
5G can augment the existing cloud infrastructure by introducing advanced edge computing features. These features are most beneficial for students that are transactional in nature. So, 5G can change how trading apps, fintech, and mobile banking work. Edge computing is also vital in jobs involving live interaction, like in robotic surgeries, online gaming, or live sports. The speed of 5G enables companies to optimally utilize sub-10ms latencies and achieve unprecedented customer experiences. So, 5G is making things possible that were only possible in theories.
- Offering Immersive Brand Experiences
As the world is recovering from the pandemic, companies are trying new methods to pull new customers. Human innovation knows no bounds, and with 5G, it is easier for companies to execute their ideas. Companies are using the power of 5G to create interactive contents to offer an immersive brand experience to consumers. These contents are usually rendered in 1080p or 4K formats, and 5G can process such long videos much faster than before.
Companies are also using various other modes like 3D, 360-degree videos, and even AR-based experiences. As advertisers are drifting away from targeting individual users, the role of 5G will be more prominent in creating creative content.
- Supporting Sustainable Farming
5G is already on its course to transform a myriad of industries across the globe, including agriculture. The enhanced speed of 5G technology has enabled farmers to capture data at a faster rate. The exponential increase in speed implies that the farmers can get faster insights about their crops, pesticides and other weather updates in real-time. With access to better and faster information, they can make farming more efficient than before. It also helps them to become more sustainable and ultimately become economically stable.
- Improves performance of mobile apps
Most mobile apps on Android and Apple phones work only in online modes. So, a super-fast 5G network already predicts to improve the performance of most applications. You can use the apps optimally, which leads to lesser data loss and more reliability. Especially business applications, like SalesForce, Expensify, or Webex Meeting, requires seamless internet connectivity to onboard a large team at once.
With the improved predictability of 5G, businesses can conduct online meetings and seminars more confidently without fearing about abrupt disconnections. 5G technology promises a greater bandwidth, so apps can operate smoothly and give the end users a better experience.
- Providing Real-Time Insights
We now live in a data-driven world. Access to data and information decides which company can lead the race in the competitive corporate world. 5G technology is the fuel that drives the system, making data easily available to the common population. There are endless ways to collect data. 5G helps to distribute gigabytes of data with almost 100% uptime and low latency. So, anyone seeking data can access it in real-time and get instant insights about various products and processes. With more availability of 5G, you can also establish the foundation that will help you to make better and more accurate predictive outcomes.
- Connects IoT Devices
As I have already established, 5G offers greater bandwidth to consumers. So, that makes 5G technology a much more accurate and reliable vessel for integrating the Internet of Things. Users can connect several Internet of Things at once, like appliances, cars, sensors, and even robots. 5G technology has better connectivity and facilitates businesses that operate depending on wireless networks. Such businesses can access a wider audience and reach customers faster with the help of 5G technology.
- Replicating On-Premise Experience
5G brings equality to on-premise networks. One may confuse this with raw speed, however, it enhances the usability of the networks. 4G networks often lag while processing on-premise networks, but with 5G, it becomes faster. In some instances, 5G can even put public Wi-Fi hotspots behind in terms of raw speed and reliability. For example, numerous consumers often use Wi-Fi in restaurants and cafes simultaneously. 5G networks provide lesser network hops than these Wi-Fi hotspots. So, in turn, 5G vastly improves data security and promotes safer browsing. It also reduces the threat of online targeted attacks.
- Enables AI-based Technology and Automation
Currently, 5G has been rolled out in a limited capacity. Even though we are yet to understand what the future holds for us, we can foresee what impacts it can make in our lives. It is already touted that 5G can revolutionize the tech world by bringing in new waves of automation. There have been rumors of influxes of artificial intelligence, and 5G can make these rumors come true.
With a lower latency rate, it acts as the harbinger of speed. So, most leading business houses will find it difficult to overlook the doors of opportunities 5G can unlock for them. When modernizing the world is at stake, 5G is the perfect launchpad to prepare us for the future, with AI and automation acting as the primary tools.
- Increased Video Consumption
4G has already hooked the netizens into watching online videos and streaming content. They are already consuming media at a higher rate than before. With 5G knocking on the doors, it is assumed that it will only increase the video consumption rate at a drastic rate. Video streaming will be easy and fast. The blazing-fast speed will minimize the buffering time to a great extent.
This can impact the business world in two ways. On the one hand, it will offer business houses innovative ways to create engaging content for their consumers. While on the other hand, customers will find new ways to immerse themselves in the product offerings. For example, Netflix has already used such technologies to make their latest web series, “Kaleidoscope”. Viewers can watch the series whichever way they want and find a new conclusion for every choice they make.
- Promoting Interactive Fan Services
Sporting events and live music concerts have started reopening again. With 5G services, event companies can offer better and more immersive fan experiences. Stadium operators understand the huge potential of the 5G network and are integrating wireless connectivity in the entire stadium. For example, the SoFi stadium in Los Angeles is built around cutting-edge technology. The recently concluded FIFA World Cup in Qatar also integrated such technology into their field, where audiences can get an AR-based output on their mobile screen and track the match data in real time. There are also various examples of interactive fan services powered by Verizon in many NBA games.
These are the eleven ways how 5G is impacting the world around us. Considering that 5G is not rolled out globally, we can only assume the deep-lying impacts it will create in the life of businesses and consumers.
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