The Impacts of 5G Technology on Your Business

By Joe Pampena, Board Certified Coach, C4C Coaching-4-Change
Member of the Vaughan Chamber of Commerce Technology and Innovation Committee

The launch of 5G (fifth generation wireless) by the major wireless service providers in 2020 will help small business and entrepreneurs be more competitive and resilient.  For those of us who simply see it as an opportunity for a new phone or new features, let me provide you with high-level insight.

First 2G provided for simple voice transmission, followed by 3G which provided advanced mobile internet and data connectivity resulting in the “app” revolution, and then 4G, our current technology, which significantly improved speed in order to serve increased demand in mobile data traffic.

We are now poised for the launch of 5G, where speeds are expected to increase 10X over 4G.  This means consumers will now have access to speeds of 100mps instead of 10mps.  Latency will now be closer to real-time communications (from a data perspective), means anyone operating a drone or any robotics remotely will have a real-time response.  Once the 5G network is fully deployed, most of the computing that today is done on your phone will, in fact, be done on the network.  This will significantly improve battery life with some initial test showing a charge lasting as long as a month.

5G technology is possibly going to be the next paradigm shift in wireless communications.  As the field of IoT (internet of things) continues to grow with such devices like drones, cameras, remote monitoring and controls, 5G will allow all these devices to communicate in real time. As 5G rolls out, manufacturers should start to focus more on the IIoT (industrial internet of things) such as robots and machines that are communicating in real time to improve productivity.

Think about the impact on autonomous vehicles as 5G roles out.  These vehicles require real-time data to get us to our destination in a timely manner and safely.  With all the onboard technology feeding real-time information into the cloud your vehicle will be able to better respond to traffic, road hazards, weather, etc.

Smart cities leveraging 5G technology will be able to significantly improve public health and safety.  Using real-time communications with data speeds on steroids, we’ll see first responders attending incidents much faster, better crime prevention, and fewer traffic congestions.

There is a lot that is fact and known now, and a lot that will evolve as the technology becomes the mainstream.  It might be a good time for you to reflect on your current business and how you may be able to leverage 5G going forward.

Next Steps:

  • Let the Vaughan Chamber of Commerce know whether you want to come to know more about 5G, IoT or IIoT – contact us!
  • Consider looking into how your industry sector is planning on leveraging 5G.
  • Consider holding off on that next mobile phone.
  • Finally, you can continue hearing from us on technology and innovation, best practices, etc. on social media and by joining our e-newsletter list.
@VaughanChamber