What you need to know about 5G

5G is more than just an upgrade for faster data networks. 5G is a major change in how the world is connected. From the outset, 5G was designed for massive, intelligent connectivity of everything at scale.

The internet businesses that we have seen emerge over recent years were enabled by the features of 3G and 4G. These businesses unleashed a wave of innovation across consumer industries including media and retail.

For 5G, the impact on our day-to-day lives will be no less dramatic. But, the disruptive effects across industries will be felt much more broadly, with one-third of possible use cases in the manufacturing sector. For example, 5G is expected to support autonomous fleets, remote-vehicle control, driver-health monitoring and smart-traffic control.

The biggest challenge is to develop the business and operating models to succeed in a world of ever-present intelligence. The central issue is collaboration. About 70% of new value created through digitalisation over the next decade will be based on platform-enabled, ecosystem-based business models.

The companies that succeed will be those that can develop diverse networks and ecosystems and can shift their cultures to one of agile innovation. With 5G, they can enable the delivery of industrial ecosystems that are safer, cleaner, greener and deliver sustainable value for all. 

Read the full article on the World Economic Forum.