5G is the next evolution in mobile networks. As well as being much faster than the previous 4G, it opens up tremendous opportunities for enterprises to scale businesses. 5G will not only mean faster speeds, less latency and greater capacity, it will also enable a new world of applications, ranging from smart cities, driverless cars, smart healthcare, online learning, remote-controlled robotic surgery to Virtual Reality (VR) / Augmented Reality (AR) in retail and gaming.
5G technologies impact every part of the business and must be considered from every angle. 5G is tipped to bring advantages to businesses large and small and it underpins Industry 4.0 – where everything is connected, processed and digitized.
How enterprises leverage 5G technologies to upscale business?
5G is a real game-changer, with increased connectivity and ultra-low latency revolutionizing how businesses operate. 5G has the potential to unleash limitless possibilities and drive innovation. Your business can start leveraging 5G strategy to disrupt competition and outpace your rivals, unleash innovation and even transform business operations.
1) 5G empowers enterprises to disrupt competition
5G technologies enable your business launch new products/ services and leverage real-time data and actionable insights from your customers.
For instance, retailers can design a mobile app with facial recognition software to track a customer’s gender, ethnicity, preferences and even emotional state. The system can identify what is in customers’ carts and make predictions about what they want to purchase in stores/outlets. With 5G data transfer speeds, retailers offer hyper-personalized shopping experiences that merge customer data with real-time analytics.
2)5G unleashes new waves of innovation
5G technologies empower businesses to deliver immersive customer experiences with ultra-low latency. More retailers are blending physical and virtual experiences as they can develop a 5G-enabled VR headset to immerse customers to walk around virtual showrooms on their products. 5G brings together the physical and digital worlds of retail, thereby engaging customers and scaling businesses.
3)5G transforms and automates business operations
Businesses enhance productivity with connected devices and save costs via automating operations. 5G technologies enable manufacturers to build smart factories and take advantage of automation, AI, and IoT (Internet of Things). Manufacturers connect machinery and robots wirelessly to increase production efficiency and reduce costs.
5G technologies essential for IoT, Big Data analytics, Smart City and AR/VR development
5G technologies is synonymous with an exciting range of possibilities and they are essential to the development of IoT, Big Data analytics and Smart City.
1)The world is shaping around the IoT technologies: 5G is designed for a vast range of connected devices, from simple, stationary low-power sensors to always-mobile autonomous cars and drones.
5G technologies embrace the instantaneous connectivity to billions of devices to build a truly connected world. From manufacturing to retail, healthcare, and more, IoT leaves no industry untouched.
5G in healthcare, for example, will enable robotic surgery, personalized medicine and so much more. 5G will be able to activate wireless manufacturing operation and industrial automation where it previously has not been possible because of the level of latency needed for optimal operation.
2)Big Data Analytics
The combination of 5G, IoT and AI is opening up new opportunities for Big Data analytics. Thanks to its high bandwidth, low latency, and the ability to support higher end-point densities, 5G will allow companies to collect more data, analyze the data more quickly and make better predictions.
Big Data analytics involves examining large amounts of data and gives insights for enterprises to make proper business decisions. With proper customer data analytics, a business will have the capability to derive critical behavioural insights to acquire new customers and boost revenue.
At NDN Group, we help your business leverage data analytics to gain in-depth understanding of the customer insights and allow your business to deliver what the customers want.
Click here for our consultation on how to leverage 5G technology to benefit your business operation.
3)5G and smart cities inextricably linked
5G connects smart cities to manage transportation, healthcare, education, resources, power, public security, environment in real-time at a massive scale.
As smart home advances continue, numerous possibilities – from sleep tracking, to diet, exercise, entertainment and security – will become common, creating a whole new wave of business opportunities. Also, online learning is enabled by 5G’s stable connectivity and high bandwidth. Learners can access a massive number of online courses and even participate remotely in real-time classes.
What is Network Slicing and its benefits in 5G era?
One of the most important innovative design aspects in the 5G architecture is its reliance on network slicing, which allows operators to provide portions of their networks for specific customer uses cases.
5G network slices will enable businesses to enjoy connectivity and data processing tailored to their specific requirements and agreed with an operator through a service level agreement (SLA). Without network slicing, the 5G promise of flexibility and optimal resource efficiency and ROI cannot materialize.
Network slicing allows a mobile operator to create specific virtual networks that cater to particular clients and use cases. Applications – such as mobile broadband, machine-to-machine communication, namely manufacturing, logistics, or smart cars – will benefit from leveraging different aspects of 5G technology.
By creating separate slices that prioritise specific resources, an operator can offer tailored solutions to particular industries, thereby revolutionising industries like marketing, AR, eSports and mobile gaming. Network slicing provides an exciting step towards realising new business opportunities in the 5G era.
Learn more about how to harness the power of 5G networks to upscale business.
How 5G technologies are applied in industry verticals?
The profound impacts of 5G are widely seen in some industries namely smart health, manufacturing, entertainment, retail, Fintech and automotive industries. Entrepreneurs must have access to the technologies to drive business forward and generate revenue growth.
1)Smart Health
With 5G technology, new smart healthcare use cases are taking shape, such as telemedicine, telesurgery, and smart medical devices. 5G mobile services will enable more effective delivery of remote diagnosis and support for paramedics.
5G allows for a seamless way of delivering cost-effective and direct-to- consumer healthcare as it is no longer limited to traditional face-to-face consultations in healthcare facilities.
Telesurgery can benefit from the low latency and high bandwidth of 5G, allowing surgeons to execute real-time surgery, even when they are not physically in the same location, using a remote control to carry out the surgery.
2)Entertainment and gaming
5G brings lots of opportunities in the entertainment, gaming and eSports industries. 5G will enable on-demand entertainment anywhere, making it more vibrant and immersive, and eSports is an exemplary example of a use case that gets significantly better with fast speeds, ultra-low latency, and massive capacity. It will offer higher resolution VR games to the masses because of its elimination of latency problems.
3)Retail
5G technologies are changing the landscape of retail industry. For example, each time a customer wants an item that is out of stock – whether it is a T-shirt, or food item, retailers not only lose the revenue from the potential sale, but also have a less satisfied customer. By using IoT-embedded sensors, retailers can have a real-time view of stock that leads to faster response and restocking times.
4)Fintech
Fintech companies challenge traditional or legacy banks with their offer of better online customer experience through 5G. The demand for seamless digital banking experience will transform banking services. Online transfers, payments, and purchasing of banking products will be the norm. IoT devices, such as smart watches and smart wallets, will use 5G for faster and safer banking.
5)Manufacturing
With 5G architecture, the manufacturing supply chain will be interconnected. Data will be shared between different locations about key business aspects such as design, manufacturing and distribution, information about equipment and products; and even data about customers and suppliers so that operations in all these areas can be greatly enhanced.
6)Automotive
5G networks will be an enormous enabler for autonomous vehicles. The technology is advancing rapidly to support the autonomous vehicle future. Many different developments in vehicle technology, network speed, data throughput and machine learning come together for the fully self-driving vehicle future to materialize.
In conclusion, 5G technologies help businesses increase efficiency, activate automation, achieve innovative breakthroughs as well as reduce costs. 5G creates tremendous opportunities for enterprises to scale businesses. It is of paramount importance for business leaders to create 5G strategies and supercharge their revenue growth.
Take bold action to leverage 5G-enabled technologies to benefit skyrocket growth.
