11 Ways The Advent Of 5G Will Aid Business

5G remains a work in progress, but that progress is getting closer to completion. Some are forecasting the network’s arrival as soon as 2020, though that remains just an estimate. Regardless, the functionality of the system, once operational, will be remarkable, far outstripping speeds of previous networks.

Wider bandwidth means more opportunities for companies, including stabler video conferencing, more options for streaming in-depth content to users and opening doors for distributed artificial intelligence applications.

While the system isn’t commercially available yet, members of the Forbes Technology Council are already looking ahead to the potential it could offer to their businesses or the industry as a whole. This is what they’re expecting:

1. Older Tech Will Become More Mainstream

I believe the biggest impact that 5G can bring for my business is actually a backdoor one. For every big new wave in the tech field, the previous high-end tech becomes mainstream. This means that 5G will indirectly enable 4G to be widely adopted across the globe and especially hitting developing countries, which will be great for SaaS companies that offer products built for small businesses. – Nick Chandi, SlickPie Accounting Software

2. There Will Be More Face-To-Face, Real-Time Virtual Interactions With Our Customers

With 5G wireless allowing for faster internet speed, there is an opportunity for us to create more face-to-face, real-time virtual interactions with our customers. On the business development front, we anticipate new ways to virtually meet with clients, prospects and providers. It could also help distribute powerful, original video content for training our employees and associates. – Jeff Bell, LegalShield

3. 5G Parameters Portend Greater Branch Synergy

As a company reliant on cloud-based services for seamless data transfer between member branches and partners, faster connectivity and lower latency translates to increased productivity. Besides increasing reliability — and thereby decreasing attention to minor technicalities — 5G parameters portend greater branch synergy, allowing for smoother remote interaction and increased focus on company priorities. – Alexandro Pando, Xyrupt

4. Everything Will Be More Connected And Efficient

With faster data speeds, low latency and a more connected world, my business will become for efficient than ever before once 5G is a reality. A 5G network will also do wonders for the industrial scales we design and manufacture. Our customers’ businesses and operations will also improve efficiency and become more connected with 5G. – Arnie Gordon, Arlyn Scales

5. More People Will Move To Cloud-Based Software

Faster internet speeds lower the cost of innovation. We’ll see more people move from downloaded accounting software to cloud-based accounting, which impacts the number of businesses looking for a product like ZipBooks. – Timothy Chaves, ZipBooks

6. Better Video Conferences Mean Happier Remote Staff

We all have been part of a video conference where someone freezes. It’s a cultural meme, much as the classic “cell phone breaking up” gag. With multiplied bandwidth, significant improvements in latency and MIMO technologies, we should also see the quality of service in video conferences improve as well. That means happier remote workers, less value in co-location of teams and much better remote learning. – Saul Diez-Guerra, Thinkful

7. 5G Will Bring About Changes In The Way Media Is Consumed

besides the clear death knell of traditional cable and broadcast TV businesses, 5G will bring about changes in the way media is consumed. Our business will see increased consumption of more video and higher-quality image content, our mobile applications will increase in complexity and sophistication, and our customers will ultimately be a part of a more immersive interactive experience. – Arthur Bierer, Vestorly

8. Network Will Make Remote Events Easier

As a hosting company, SiteGround tends to require multiple fiber optics coming to our offices. Working outside for a long time was unthinkable for 24/7 businesses five years ago. Last year, we had our annual three-day team meetup high in the mountains, and 4G saved the day. If anyone had to work, they’d use the mobile 4G, which worked perfectly. Now with 5G coming, we can organize even more remote events. – Ivailo Nikolov, SiteGround

9. CEOs Can Recruit The Best Talent, No Matter Where They Live

A 5G network is a great opportunity for forward-thinking CEOs to truly realize their goals of becoming a connected company. 5G removes barriers, so employees can effectively work anywhere. As a CEO, this offers a huge opportunity to hire the best talent no matter where they are located, and it allows companies to build and maintain offices in attractive regions — another key aspect for recruiting. – Fred Voccola, Kaseya

10. It Will Be A Boon For The IoT industry

Embedded chips will provide real-time information on where a package is at all times. Retailers could implement predictive shipping and route packages en route. Assembly lines, shipping and order management systems would communicate with one another to reduce the need for inventory planners. Sensors can notify health care providers with patients’ vitals in real time all the time. – Viren Gupta, Eponym

11. Speed Will Help The Push Toward Distributed AI

Speed inspires adoption. 5G will allow better integration of users with all systems, simply because the connections are so much faster. Combine this with intelligent agents like voice command systems, and the back-end databases will become only more accurate and useful. 5G will open as many doors for AI as 4G/LTE did for video on mobile. Less typing and more talking to systems all around. – Terry Cottrell, University of Saint Francis

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