The personal use of 5G has been a much-researched topic in recent years, as has the uncertain pace of 5G adoption in the US. But despite stumbling blocks, even companies (both large and small) are diving into the world of 5G connectivity to experiment with new business models.
In fact, some experts believe that 5G has a lot more potential for businesses to use than ordinary consumers. “If you asked a random person how 5G has affected them, they will most likely tell you that their battery won’t last that long!” Says Allen Proithis, CEO of Capstone Partners, a company that, among other things, produces 5G applications for the US Department of Defense. “5G today is a bit like the internet twenty years ago,” he adds. “Back then, the internet seemed like a big deal, but nobody really understood how to use it as a business tool.”
5G in operation
According to experts, the increasing pace of 5G adoption has some obvious advantages for companies in all growth phases. “5G technology offers a tremendous opportunity for transformation, especially in three areas: operations, employee experience and customer experience,” Daniel Hays, Principal at PwC, told Digital Trends.
Given the operational advantage of 5G, Hays said, “5G may provide a way to improve operational performance and costs through improved connectivity, higher speeds, and lower latency. This in turn can be transferred to intelligence and automation for routine tasks. This includes factory and warehouse automation or perhaps intelligent traffic flow monitoring for large cities and major events. “
Another example is healthcare, which is making a big impact with the adoption of 5G. “The more efficient connection enables doctors and first responders to collaborate that can end up saving lives,” said Nick Cherukuri, founder and CEO of ThirdEye Gen, an augmented / mixed reality company that uses 5G to communicate with field workers and first responders to connect back to the base.
5G and augmented reality to increase employee efficiency
In addition to operations, 5G also benefits employees, say experts. “5G technology can increase the performance, efficiency and safety of employees,” says Hays. Proithis agrees, saying that high data speeds and low latency enable a class of AR applications that can significantly reduce employee training time while increasing the quality of knowledge transfer. He cites the example of “companies like Taqtile (a technology partner of Capstone) [that] developed a class of AR tools that anyone can use to easily collect the data needed to perform a task. “
Experts believe that 5G has the potential to bring small and medium-sized businesses on par.
The task expert can use AR glasses or even a smartphone to document a task as it is being carried out by another expert. “Thanks to the 5G network, the user can see a layer of information superimposed on what they see with their natural eyesight,” says Proithis. “Anyone who has ever played a modern video game is used to a layer of information and we can now use it to improve efficiency.”
The best part? Experts believe that 5G has the potential to bring small and medium-sized businesses on par. “While most of the early experiments will likely take place in larger companies with more technology and resources,” says Hays, “5G gives small businesses the ability to connect more with existing customers, reach new customers, and achieve levels of operational efficiency which was previously only available for larger organizations. “
“Like other new technologies, 5G will reach everyone, only faster than usual,” says Proithis.
Challenges for 5G in business
Despite its numerous advantages, 5G, like other technologies, has its own disadvantages.
“Access is the biggest challenge when introducing 5G,” says Delmond Newton, founder and CEO of Groopview, a co-viewing application that benefits from the use of 5G networks. “5G technology is still being implemented in the US, but there are a lot of hurdles, especially in rural areas where infrastructure is lacking.” This is especially true of the consumer-level 5G home internet, which has and has not faced technical challenges is widespread enough to catch on.
The bottom line, which all the experts at Digital Trends agreed on, is that it takes time to get the most out of 5G. There will be a tremendous learning curve as companies try to figure out how to best leverage the innovations, but all of these are issues that can be resolved, maybe even in the coming year, according to Marc Price, CTO of MATRIXX Software, a 5G -Monetization company. “In the coming year we will see an explosion in supporting hardware and software solutions and in system integrators who know how to use the technology.”
Proithis also agrees: “The only restriction to benefit from 5G will soon be a company’s creativity and willingness to learn.”