5G is not just another “G”. Unprecedented wireless connectivity capabilities are here to support business needs. Extra-low latency, massive sessions and Gigabit level speeds are finally available simultaneously, founding a “powerful connectivity layer”. Adjacent tech revolutions such as Cloud Computing, Artificial Intelligence, and Big Data analytics create a “dominant platform layer” unleashing real-time analysis & decision-making potential. B2B & B2C services utilizing “connectivity” & “platform” will disrupt existing business models of each and every industry, transforming the economy & boosting productivity to the edge.
As the World Economic Forum has stated, 5G is expected to change the world even more profoundly than 3G or 4G and be as revolutionary as electricity or the automobile. 5G promises to allow networks to harness data and machine learning for more efficient control of physical processes that span every aspect of the economy. 5G technology allows for faster download speeds, lower latency, higher device density, higher reliability, and greater network capabilities.
Consumers will have access to better quality wireless communications, unlimited data allowances, and new services. But for the first time in xG evolution, businesses stand to benefit even more from new powerful connectivity capabilities that allow real-time process optimization, critical information management, and certain machine learning & artificial intelligence applications.
As part of the development of a white paper published by the World Economic Forum, an analysis of 40 cases identified several drivers in key industrial advances and social impact areas in addition to the main functional drivers of 5G.
A 2020 EY study, commissioned by the Hellenic Ministry of Digital Governance, identified and analyzed several 5G B2B cases for Greece, ranging from autonomous vehicles and remote surgery, all the way to construction and utility grids. According to this study, 5G will trigger economic growth of the Greek economy, not only from the network roll-out investment itself but also, even more significantly, from the Verticals’ adoption of 5G, resulting in a cumulative Gross Value Added ranging between €7.3bn and €12.4bn by 2030.