July 2, 2018
5G has the potential to transform many aspects of our daily lives, at home, on the move and at work. Its impact will be felt across industries and sectors as companies make use of innovations enabled by the latest technology. While consumers can expect a faster, more enjoyable online experience, the biggest impact of 5G is likely to be seen in enterprise applications. And it’s exactly these type of applications that we examine in this blog, the second in a series on the subject of 5G. If you missed the first, take a look. It provided a good overview of the impact of 5G.
A range of industries are likely to take advantage of the increasingly sophisticated information sharing applications powered by 5G. Here, we take a look at smart cities, health, finance and connected cars.
Smart cities: 5G will support high numbers of connections from previously unconnected locations and this can enable monitoring of street furniture, such as lights and wider uses of sensors in our environment to detect, for example, water leaks.
Information from sensors could then be used to decide when to dim lights, or perhaps provide the insight needed to identify water leaks and take action. In this way, the capturing and processing of an expanded – and broader – range of information that 5G would support could result in cost reductions and environmental benefits through reduced light pollution and water wastage1.
Health: 5G will support an increase in the type and range of mobile data that can be gathered, processed and shared in the provision of healthcare. Individuals will be given convenient and more immediate access to granular data about their health and well-being that will enable them to better manage aspects of their own health.
Data could also form a bridge between patients and healthcare providers through sensors transmitting information that can be acted on swiftly, for example by arranging remote video consultations2. Lower lag times and higher capacity could also support sophisticated levels of remote healthcare, perhaps even enabling “a surgeon in New York to control a pair of robotic arms performing a procedure in San Francisco.”
Finance: The way we pay for goods and services is changing. We are now becoming rapidly accustomed to ‘contactless’ payments with minimal interaction needed to authorise the transfer of funds. According to an Ericsson survey, the financial industry anticipates cost reductions and customer experience improvements as a result of 5G, along with a boost to “real-time mobile trading and high-frequency trading.”
Connected cars: The connected car of the (not too distant) future will share information with other vehicles as well as the environment and use a wide variety of data to help it navigate, obey the laws of the road and proceed safely. The volume of data involved in such interactions is simply staggering – reportedly four terabytes for every eight hours of driving, according to some estimates.
For technology companies, 5G is big business as they jostle to make their mark in the new 5G era. The question is, how can they succeed in standing out amidst the hype? That will be the topic of the next blog in this series, but before that, you can download our white paper ‘5G is coming. What will it mean?, ’ which includes a look at how technology companies can capitalise on the opportunities that 5G brings.
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