Depending on where you live, you may have already seen commercials and ads for “5G”. And you might have thought “isn’t 5G just faster 4G?” And the short answer is no, it is much more.

It is difficult to imagine what this upgrade in mobile telecommunications will do. Much of the disappointment with IoT, AR/VR, and mobile connection will become a problem of the past. Allowing everyday life to be reshaped by everything from smarter homes and cities to new autonomous transportation to better predictive health measures and groundbreaking advancements in predictive health.

Networks will see efficiency gains such as lower latency, higher reliability, lower costs, higher data rates, and increased system compatibility. All of which will offer businesses new growth opportunities. Some reports project over $12.3 trillion in new revenue across sectors. Others predict an overall growth in global GDP by 2.597 trillion USD from 2020 to 2035. That is roughly like adding an India-sized economy to our current global GDP.

Everyone won’t get 5G at once. Nonetheless while some startups become early users and reap the 5G spoils, others will lag behind. 4G made apps like Instagram, Snapchat, Uber, Airbnb, and Netflix possible. 5G will grant those in the know a chance to build, buy, partner, and invest and reach new heights.

 

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