On this morning’s WJR Business Beat, Jeff talks about 5G, or 5G wireless networking, and how it will provide for better consumer experiences, while also swinging open doors for more enterprise activity.
The network will roll out over the next several years and will generate a variety of new applications, uses and certainly business models and opportunity.
According to data from Infosys published in October 2019, roughly six months ago, executives worldwide were looking to use 5G for things like connected cars, security services, emergency services, healthcare and various other such applications.
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Good morning, Paul. We know that technology sea change creates new entrepreneurial opportunities, and one such coming wave is 5G, that’s 5G wireless networking. Not only will it provide for better consumer experiences, it swings open doors for more enterprise activity as well.
Now, 5G, or as it’s otherwise known, fifth generation wireless, is the latest iteration of cellular technology engineered to greatly increase the speed and responsiveness of wireless networks.
Think of it as a bigger pipe, with more stuff, moving through it and at a faster speed and this stuff in particular, moving through the pipe in 5G would be lots more data going back and forth.
The network will roll out over the next several years and will generate a variety of new applications, uses and certainly business models and opportunity.
Though U.S. adoption of 5G is still in its early days, and consumer knowledge of the technology is lagging compared to other countries, industry professionals are already anticipating what opportunities the wireless tech will bring.
According to data from Infosys published in October 2019, roughly six months ago, executives worldwide were looking to use 5G for things like connected cars, security services, emergency services, healthcare and various other such applications.
Let me give you some examples: most anticipated use cases for 5G according to executives worldwide are the following:
Connected cars using ultra low latency technology. That’s a 5G based solution. Sixty one percent of respondents said they’re excited about using the technology in that regard.
Next, connected, secure home or business opportunities for the technology at 46 percent, smart buildings 41 percent, mobile office buildings 39 percent, broadband and home entertainment, 25 percent, so that puts some perspective on the ways both big companies and small companies can and should be thinking about the utilization of 5G technology as it begins to roll up.
Now, listen, if you’re an entrepreneur looking for the next big wave to ride, you’ve got one coming: think 5G.
I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.
