It’s Coming – How to Prepare Your Business for 5G
5G offers us a whole new world of data speed and bandwidth, it will seem like we have officially entered into the type-1 civilization phase.
But how is 5G going to impact the market? More importantly, how it’s going to impact your business? Is there something you should do additionally to stay ahead of the curve?
Does any 5G hype make sense to you? What did 4G do that you should care for 5G now?
Let’s take an educational guess into all those things and see how your business is going to perform in the new 5G era.
What is networking technology?
The speed and bandwidth a device get to transmit data to and from the internet happens through the rise of networking technology.
1G in the 80s had a pathetic, almost non-existent data speed. 2G in the 90s had snail data speed, faster than 1G but yeah, still snail. 3G in the 2000s officially gave us actual considerable data and bandwidth.
4G in 2010s changed the game of using the internet. And now 5G promises to raise the stakes much higher in speed and bandwidth.
How is networking technology valuable for businesses?
The more advanced a networking technology is, the faster and error-free your connectivity to your market, consumers and business trends would be.
Imagine, you are in the mid-1980s, waiting for a whole month to get the latest market trends so that your research and development team could take action for the new line of fashion and clothing apparels.
You’ll lose precious time and lots of money just to stay ahead from the competition.
It makes me shudder to think about this slow-mo scenario were I to be a businessman.
What is 5G technology?
According to Routerctrl.com, the 5G network implementation has begun in 2019. It is the fifth generation of wireless cellular communication.
It promises faster speeds and more stable connectivity, uniformed end-user experience, lowest latency yet and the ability to connect millions of devices per square KM.
5G uses the higher frequency bands of radio spectrum which has larger capacity but shorter wavelengths. What that means is 5G will give you a bandwidth of 1000 to 10,000 Mbps and a latency of 0.001 seconds.
It is 10 to 20 times faster than 4G!
Did 4G technology help the businesses, if so how?
When 4G was released in the early 2010s things got fast! It was 4G which started the smartphone revolution.
Know how people would say ‘there’s an app for that’ out of random when talking about how you sometimes think about turning yourself into a dog.
Lots of apps got into existence, many of which we never could have imagined we needed. Bringing in more jobs and money for everyone involved.
The powerful HD photo and video sharing platforms like Instagram and Tik-Tok and YouTube Shorts happened because of 4G speeds.
Apple’s Face Time, Zoom Calls, Just Eat, CityMapper, Uber, Airbnb, Lyft, Amazon Prime Videos, Netflix and many more took off and made an impact as strong businesses thanks to 4G, my dude, couldn’t you tell?
4G gave us instant entertainment, streaming, OTTs, many convenient oriented businesses, faster mobile internet, better and safer shopping experience and thus more opportunity for a lot of people to make money and be independent.
Possible 5G Benefits for Businesses
- Much faster communication
- Supports more millions of devices per square kilometer
- Nonstop 24/7 bandwidth access from mobile devices
- Brings an end to that typical ‘dead spot’
- It will heavily improve the Internet of Things (IoT) and Artificial Intelligence (AI)
- More efficient and stable remote working technology
- Faster inter-branch communication within a corporation
- Less dependency on Wi-Fi
- Much faster cloud computation of abysmally large amount of data
- Grand VR and AR and Mixed Reality experience
How to prepare your business for the 5G technology?
Nobody is sure how exactly can you make your business 5G friendly right now, because nobody knows accurately how 5G is going to impact us, this is all just a ballpark guess.
But still, 5G is expected to contribute $700 billion in world economy by 2030.
Here are the lucky 13 advices to cash in on 5G era:
- Learn how the greater increase of data transfer can impact the business with your consumers.
- 5G will be able to connect around a million device per square kilometer so know how that will be beneficial for your business’ IoT particularly.
- Is your technology portfolio aligned with your industry’s average? Are any of your present products/services are as such that could help you out later?
- Is your business always progressive to respond quickly to market trends and demands, that’s a no brainer for any new technology!
- Work with developers and engineers to enable more sophisticated artificial intelligence and augmented reality in enhancing your customer’s experience.
- It’s time for remote working so give a well-thought-out look at your employees and figure out how you can make the most out of them using the faster and more reliable remote working efficiency of 5G.
- Business leaders should make it sure that all their IT systems are forward compatible and ready to be hooked to 5G when it gets mainstream.
- Reduce your reliance on local mainframes, because the new tech will heavily utilize high degree of virtualization.
- Appoint an internal IT team, those guys will guide you how to make the most of 5G and will also give you constant updates.
- Maintain a good relationship with the telecom provider of your company.
- Strengthen your big data analytics. You will get a HUGE amount of data and you need a way to make sense of all that fast.
- Create a 5G strategy using those IT guys, your marketing team and of course your folks at R&D.
- And finally, create a budget for the upcoming required hardware that could run 5G.
The four industries that are sure to get the best end of 5G bargain
Personally speaking, these four industries are going to swim in money when 5G is fully realised in our society:
- Remote site security/safety and remote asset management for manufacturing
- Hot spots for sports, concerts and other major events in public venues
- Mobile entertainment in public and vehicle transportation
- Augmented Reality/Virtual Reality + Wearable Devices
So, if you are planning to get rich quickly, wait it out and plan your business accordingly from right now in these four mediums and I’m sure with my no MBA degree that you’ll hit oil in no time.
Everybody went nuts when they announced Y2K was going to happen back in the 90s. people started worshipping God and farming eggplants and toilet paper in their backyards. And what happened?
Nothing, some vending machines malfunctioned, that’s it.
Nobody knows how 5G is going to turn out. It’s just faster speed and lower latency that makes us take educated guess.
People are still going to watch cat videos only in 10 times more speed. So, relax and consult some IT guy and he/she will tell you the basics to be ready for in 5G era. Thank you.