The returns and the risks
The biggest changes that we are likely to see as 4G gives way to 5G include higher speeds, lower latency, and the ability to connect more devices at once. The benefits of 5G aren’t limited to its use however, and Qualcomm is predicting a $12.3tn economic boost worldwide, with 22 million new jobs thanks to both the infrastructure and technological developments required by 5G.
As of 2019, 5G is mostly relying on 4G connections, so its full capabilities are limited to test environments. But from this year, when the standalone 5G network is deployed and enabled, the race to develop better, faster, more efficient IoT devices and processes means exponential growth and potential.
This is when we’ll start to see the impact of 5G – at work, at home, out and about. We’re already feeling the push of connected devices in and around the home, with Alexa, Siri, and Google talking to us more than some of our family members. However, it’s at work that we can really start to imagine how 5G can benefit our customers, advance our products and services, and, ultimately, make us more money.
Below is an infographic from LiveTiles that looks at the potential of 5G as well as its potential pitfalls.