5G Entrepreneurs Creating Billion-Dollar Businesses
Within the next five years
New multibillion-dollar businesses will appear that didn't exist before due to 5G wireless technology. Because of this, many industries will either be agile, reacting to an ever-increasing number of 5G innovators disrupting their industry, or they will be anticipatory innovators and use the predictability of 5G capabilities to become the disruptor.
The first generation (1G) of wireless came with the introduction of cell phones constrained to phone calls and high-level executives. The second generation (2G) gave us better call quality for wireless phones and offered a new capability for text messaging via SMS. The third generation (3G) facilitated mobile internet browsing and early video calling.
Most recently, 4G brought us useful multimedia networked computers with media-rich streaming applications like Snapchat, Instagram, Facebook, Netflix, and more.
Up next is 5G.
This generation of wireless technology is already being deployed in major cities in the U.S. and other countries. Qualcomm, Ericsson, and Broadcom as well as network providers AT&T, Sprint, and Verizon are all putting in maximum effort, with mobile device manufacturers starting to launch their first 5G-enabled devices.
While consumers have become jaded to the 5G terms as seen in commercials, there are many consumer and business implementations of 5G to be excited about. Once deployed and fully operational, 5G would essentially be the solution to deliver complete digital connectivity from the tip of the carrier network and essentially be the death of cables in homes and offices alike.
As it stands today, 5G would function as a set of simultaneous revolutions, all of which must function without any trouble whatsoever, in order to provide the speed and connectivity it boasts. Some hiccups actually go beyond technological functionality and spill into business and social conflicts:
- Unified Carriers. 5G wireless would essentially place companies like AT&T, Verizon, and the combined T-Mobile and Sprint in competition against Comcast and Charter Communications for services.
- Remade Landscapes. 5G allows for smaller transmitters that consume lower power, with smaller 5G transmitters covering much smaller service areas than those typical 4G towers. A carrier would need about four hundred times more than we currently have, camouflaged in urban areas.
- Restructured Global Technology Economy. Upon implementing 5G, areas such as Scandinavia where Nokia and Ericsson reside would become the primary hub for telecommunications, and China Mobile and Huawei are jointly responsible for the architecture of 5G, making China more powerful in the data world than the U.S.
The cost is of most concern in many cases. Prices for service would most likely start out pretty high compared to where we are now, covering the costs to implement the technology.
In several articles of mine, I've called on anticipatory businesses and individuals to pay attention to the Hard Trends shaping the future both inside and outside of their industries, and the digital disruptors that may affect them directly or indirectly. Implementation of 5G would certainly jump-start those disruptions.
The following are perfect examples of technology-driven changes I've discussed in previous articles, and their correlation to 5G technology:
- Vehicle-to-Vehicle Communications and Driverless Automobiles. 5G will enable Vehicle-to-Vehicle (V2V) communication, using the low latency of 5G wireless networking, allowing each vehicle to know exactly what all the other vehicles are doing around it.
- Virtual Reality (VR) and Augmented Reality (AR). Ultra-fast connectivity and synchronicity are important for the user experience, as video communication within corporations will be meshing with VR as remote employees take virtual tours of a manufacturing plant with individuals who are physically there. In the AR world, the very infrastructure of AR glasses and other AR technology is contingent on high-speed connectivity with the amount of data present.
- Cloud Computing. 5G wireless has the potential for distributing cloud computing services, creating near real-time experiences with edge computing that are much more engaging to users than Amazon, Google, or Microsoft are today.
- Internet of Things (IoT). Everything from kitchen appliances to parking meters can all be made easier to produce, easier to control, and more connected than ever before. 5G transmitters will become IoT hubs, acting as real-time service hubs for all the households in their specific coverage areas.
- Healthcare. The availability of low-latency connectivity in extremely remote locations such as Mississippi, where trials of 5G connectivity are implemented, would connect individuals to remote medical professionals for information.
By being anticipatory, many telecommunication providers are pre-solving problems with 5G before they occur by way of moving customers into a 5G business track before most true 5G services exist. It is the perfect time for you and your organization to anticipate what's to come, and more importantly, what is to be affected by 5G in your industry. By paying attention to the Hard Trends shaping the future, you can stay ahead of the curve to avoid falling behind.
To be certain of the Hard Trends shaping your future, get a copy of my latest book The Anticipatory Organization – I have a special offer for you!
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