How will 5G affect Businesses? The Benefits of 5G

There has been a lot of buzz around the new 5G Technology and how fast it is compared to 4G and other previous networks. There has been mixed feeling as well, just like any other new technology developments. Its benefits are something that you cannot easily take your mind away from. Imagine being able to download a 2-hour HD movie in just 3.5 seconds. It’s quite mind blowing, right? Just in case you don’t know, 2G was for texts and phone calls, 3G was for web browsing, 4G was for video streaming and 5G is for very high speeds. This new technology is set to be launched in 2020. Every sector will benefit greatly from this new development from Healthcare to Transportation, to Business. Many Internet of Things (IoT) products are being developed and there is no doubt that 5G will benefit from the 5G technology.

How businesses will benefit from 5G

  • Faster Network Speed: Everyone wants their transactions to be completed as quickly as possible. 5G with its enhanced bandwidth will make product delivery and sales happen quicker. International businesses won’t experience dropped calls like the previous networks.
  • Greater Capacity: The ability for the 5G technology to connect to multiple devices at once will boost the Smart City, Smart Homes and Smart Factories initiative. Smart City is an initiative that aims to enhance the performance of urban services including but not limited to, reducing carbon emissions and reducing crime using facial recognition systems. It can also use calculations help to develop the best routes with the least traffic for public transportation. Water and waste will also be efficiently administered, reducing water wastage. Smart Home include gadgets like Automated Shutters and Presence Detectors, which turns off the lights when you leave a room.
  • Reduced Latency: The 5G network is very fast, making applications and software more responsive. It facilitates connection along a 1km radius. The self-driving cars will be more accurate in its dealings. Smart Cars need lots of bandwidth connection and would require quicker response time in converting all the algorithm while driving. The normal satellite TVs will lose favour from customers. Customers will now stream their favourite shows online without worrying about buffering.
  • Better Networking for Small Businesses: Local Businesses that weren’t able to connect to the world because of poor network coverage would be able to enjoy the online world with 5Gs wider network coverage. The local farmers and other small-time businesses can now be able to reach out to millions of people using this network.

With the many benefits of 5G to businesses, there are also disadvantages. The 5G network will put many out of business. It looks to be the beginning of the artificial intelligence’s uprise, like we usually see in movies. The robots would learn everything about us and take over many things that humans do at a much lower cost.

For Employment, with the rise of Artificial Intelligence, there is said to be the implementation of the Smart Factories whereby the human input in production reduces drastically. For transportation, taxi drivers will be highly unemployed with self-driving smart cars taking over. Technology is one of the areas where artificial intelligence will never replace because technology is created by us humans so they can never replace us. However, there is more concerns on artificial intelligence replacing certain job roles.  The 5G will also bring more jobs than it would take away in the coming years. So, it is not a big worry at this stage.

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