5G<\/a>, the 5th generation of wireless connectivity, is not just a mere advancement over 4G; it is the glue that will bind our digital future and solve challenges such as weak technology infrastructure, unequal access to education, cyber risks, polluted cities, and improper waste management, among others. It is at the core of emerging technologies such as Metaverse, Artificial Intelligence<\/a> (AI), Internet of Things (IoT), cloud computing, etc. that are set to disrupt the world.
On the occasion of World Telecommunication and Information Society Day, let us understand how the fifth generation of network technology will bring individuals and enterprises the fuel they need to leverage new-age tech.
Digital connectivity: backbone of a digital economy<\/strong>
The COVID-19 pandemic had a lasting impact on individuals, governments, and businesses worldwide. As some semblance of normalcy is returning, organizations are betting big on re-building than repairing, and we envisage telecommunication technologies to be the catalyst in this process. As the leaders across the world continue to wade through unchartered waters, a strategic approach powered by emerging technologies such as 5G will help organizations to not just mend issues within the ecosystem, but will also help in rebuilding the enterprise as a whole.
5G has the potential to address the issue of digital divide by improving the public infrastructure and creating intelligent and hyperconnected communities. Over the next few years, 5G is anticipated to become the standard for mobile communications technology, ushering in a new era of connectivity, speed, and possibility.
Further, one of the key service areas of 5G – Massive machine-type communication (mMTC) – has huge implications for creating hyperconnected smart communities. Cities, ports, warehouses, etc. will embed sensors across the infrastructure, including pavements, buildings, traffic signals, water and sewage pipelines, and mass transit. With a combination of 5G wireless and wireline connectivity, public works departments would be able to track the exact location of assets across the city.
5G: a new era of customer experience<\/strong>
With 5G’s rise, Data Analytics, Artificial Intelligence and Machine Learning will penetrate new market segments and enable enterprises to make better, data-driven decisions. This will also provide more precise real-time and predictive analytics for better customer experiences. The ability to distribute processing among devices, edge, and cloud, will facilitate flexibility for new solutions and use cases.
Fuelling innovation with 5G
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The new era of all things ‘smart’ and ‘connected’ is led by innovation. What enterprises need today is the freedom to truly innovate and break new ground. A space with the liberty to exchange ideas and collaborate to co-create solutions that are future ready, deliver high impact, profitability, and superior customer experience. The arrival of 5G makes all of this possible and more.
5G gives enterprises the opportunity to experiment myriad ideas, start small, fail early, and learn fast. Pick a particular challenge and take it up as a pilot project, test and iterate till you get to the finish line. This makes the fifth generation of wireless networks enterprise-centric because it means innovation without affecting the current operation and faster processing that will translate to faster testing and deployment turn-around-times, enabling quicker realization of value.
Billion-dollar industry-wide transformation powered by 5G<\/strong>
Industries from agriculture to automobile and aviation, healthcare to home automation, and manufacturing to mining are building on the promises of 5G. Industry estimates state that 5G is estimated to create USD 3,667 million in opportunity by 2026 in healthcare by increasing accessibility and improving patient care. It can redefine the way healthcare is delivered and kickstart the healthcare revolution. Remote monitoring and surgeries, better image processing, utilising drones in emergency situations and faster data transfers are some of the major use cases for the sector.
The trend is likely to be the same for other segments as well. The growth is also reflected in the 5G technology segment, which is expected to achieve a global market value of $797.80 billion by 2030.
5G to spearhead the next wave of digital transformation<\/strong>
Today, the role of telecommunications networks in enabling digital transformation cannot be undermined. With 5G, the scope of digitization is infinite thanks to the ultrafast and low-latent network, which also promises greater flexibility and reliability required to handle multiple applications and devices across a single network. We anticipate 5G to spearhead the next wave of digital transformation and those who leverage the technology today will have the power of ‘edge’, a competitive advantage, and an opportunity to create enterprises of tomorrow.
(The author is President, Communications, Media and Entertainment Business, and CEO, Network Services, Tech Mahindra<\/a>)<\/em><\/strong>
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