5G: How businesses can prepare

5G is the marketing term for the fifth generation of mobile networks, which will offer higher speeds and lower latency than the current 4G. The average latency of 4G is about 50 milliseconds, and 5G can be as low as 1 millisecond. This is very important when it comes to scenarios where response time affects the results, such as online gaming and streaming, virtual reality, and the growing number of IoT applications.

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Our world is already mobile, with over 30 billion connected devices and continuing to grow with the popularity of IoT technology. Existing spectrum will continue to be congested with network traffic and cause maintenance and reliability issues. 5G will allow more devices to be connected simultaneously, and telecom base stations will be significantly smaller and can be installed in a wider range of places, which was not possible in the past. The problem is that to benefit from 5G, you need hardware or devices that are compatible with and support 5G.

5G will play an important role in multiple industries and help accelerate the development of connected technologies. These advances will enable connected cars and autonomous driving, as well as smart cities with connected logistics, transportation and infrastructure; enhanced technologies from robotics to blockchain to wearable healthcare, industrial IoT and smart factories; and more widespread use of augmented reality, virtual reality and mixed reality.

While these technologies have been around for some time, 5G networks are expected to drive exponential growth, scalability, and adoption of these technologies.

How can enterprises prepare for 5G?

Enterprises must prepare for the technology now in order to take advantage of the benefits and operational efficiencies 5G offers.

• Investment budget: Initially, the 5G hardware required to take advantage of 5G’s benefits will be more expensive than 4G, and once 5G is fully rolled out, it will be important to have the right technology in place.
• Planning: Enterprises need to prepare for the new wave of automation and AI. Lower latency speeds will provide new opportunities for enterprises to leverage automation, machine learning, and AI in more of their operations.
• Education: Leaders and employees need to develop a comprehensive understanding of what 5G is and increase their awareness of how 5G can support business goals, including where to find the latest 5G applications to benefit their business.
• Strategy: Enterprises should integrate 5G implementation into their overall business strategy to ensure that significant innovations in products or processes are made to facilitate 5G adoption.

Although it will quickly bring smart technology and the Internet of Things into the consumer and business mainstream, mass adoption of 5G is still expected to take five years. In the meantime, business leaders and CIOs are developing strategies for this new technology, which is challenging given that we don’t yet fully understand the potential impact and opportunities it may bring.