I get asked often, where do you see things in terms of digital in 5 to 10 years time. Well, we don’t really need to look as far as 10 years, or even 5 for the next big turn in the digital revolution wheel. Let’s talk about 5G5G 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. This will undoubtedly have a massive impact on business – for the better.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:
The Government wants the UK to be a ‘world leader’ in 5G
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.
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.
The future of the Internet of things is not that far away…..
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.
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.
It is almost vital to keep your business up to date in today digital revolution.
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 Quickbooks etc.
It is almost vital to keep your business up to date in todays digital revolution. You don’t need to look too far for classic examples of businesses that fell complacent and failed to embrace peoples changing behavior towards buying online – as a result of the new digital landscape,