The arrival of 5G is a triumph for business, and tech experts are excited about what this means for consumers as well. For some, this could be game-changing, catapulting business operations into a new world of high-speed. Here are nine ways in which 5G is changing the business world.
1. Networks Will Unite
Because of its strength, 5G can support systems of a much larger scale than 4G. This means that businesses using multiple networks will now have the ability to unite them. To keep up, businesses with a larger network may have to consider a cloud-native converged charging system with a 5G charging function in order to monetize.
2. Company Agility Will Have to Improve
New standards in the market will naturally emerge as 5G takes over. Businesses will be expected to come out with new products and services at a faster pace than ever before. As consumer demand changes, businesses will have to consistently analyze their performance and work quickly to improve lag time.
3. Data Analysis Will Be Much Faster
The word “real-time” is a defining characteristic of 5G. Data will now be collected at a rate faster than ever before. This means major changes for some very important sectors. Faster data collection means faster analysis, and that means quick diagnosis when it really matters. With entire cities operating under 5G, you can expect a faster response to city service monitoring, such as power outages and crime reporting.
4. Apps Will Be Updated
It’s standard procedure for businesses to supply an app for their services. Apps can be updated to benefit from the advantages of 5G’s accuracy, speed and strength. Ride-sharing and food delivery apps will especially benefit from this transition. The limitations they had before with 4G will disappear, and they can now start thinking about what services or products they want to provide that they weren’t able to before.
5. Gaming Servers Will See a Decrease In Latency
Gaming servers will open a whole new world of possibilities. Technologies like edge computing complement 5G, creating a faster, more efficient gaming experience for consumers. Businesses that specialize in connecting a gamer’s computer to the gaming server will have a significant advantage over the competition.
6. Security Will Be Even More Crucial
In comparison to 4G, 5G is more reliable and stronger. It’s able to support more devices while using less power. As a result, businesses will have to beef up their information security. Increased bandwidth and the rise of hardware traffic will lead to a relocation of the security center. Rethinking security will be a must for a business to survive.
7. Customer Communications Will Improve
The standards for business-to-consumer communications will significantly elevate due to 5G. This puts a great amount of pressure on businesses to improve their digital investments and create stronger communications platforms. More interactive customer communication will create a richer environment for product and service distribution.
8. IoT Will Change
Small businesses will now have access to the Internet of Things (IoT). IoT did not operate efficiently with 4G, causing a lag that limited its coverage capabilities. With 5G, IoT will be able to break through those limitations and cover entire cities. This means that a larger audience will be able to access IoT.
9. Video Streaming Will Speed Up
Consumers will be delighted to know that video streaming will reach an all-time high in speed and quality. This means streaming platforms, virtual reality services and high-resolution video services will peak in consumer engagement. Mobile users will benefit the most, primarily because video streaming happens overwhelming more on smartphones than televisions, computers and tablets. Apps and widgets with live viewer participation will see the most improvement.
This is just a shortlist of the changes that will come with 5G. You can expect cybersecurity to take center stage as 5G takes over online systems. Infrastructure upgrades will be needed, and you can expect smoother cloud transitions. The possibilities, for the moment, seem endless.
Guest Article by Kevin Gardner
Kevin Gardner graduated with a BS in Computer Science and an MBA from UCLA. He works as a business consultant for InnovateBTS where he helps companies integrate technology to improve performance. He shares his knowledge and expertise not only with his clients but with his fellow bloggers and readers.