Strategies to Develop an Effective Strategy for Capitalizing on 5G

Strategies to Develop an Effective Strategy for Capitalizing on 5G-01

5G holds immense potential for transformation with AI and the IoT, but with every technology shift, organizations need to rethink plans, goals, and investments. When planning for a future that incorporates 5G, forward-thinking networking and IT leaders must define a clear strategy for capitalizing on the technology.

Global 5G networks offer new technical possibilities, prompting modern enterprises to consider how 5G wireless cellular connectivity affects their operations.

More specifically, dedicated resource management with network slicing, enhanced connectivity through new spectrum, extremely reliable communication for latencies less than 10 milliseconds, enhanced security, and flexible service creation and deployment with service-based architecture are just a few of the benefits of 5G.

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Impact of 5G on cloud and edge computing

Cloud: 5G will allow network operators to develop new and improved services while also modernizing their networks. Intel is calling it ‘cloudification’ – wherein cloud technologies, platforms, and virtualization capabilities are extended throughout a communications network to make it more flexible, agile, and scalable. Cloudification, according to it, prepares for 5G’s 1,000 times more capacity, 100 times faster speed, and10 times lower latency.

For businesses, 5G will offer faster feeds and speed, as well as near-realtime machine control. The increased reliability, speed, and low latency will help businesses. It will allow for the creation, storage, and transfer of new data. Almost every business, from manufacturing to construction, will benefit. Businesses will be able to innovate and use artificial intelligence in new ways.

Edge: The edge processes data closer to the source and provides lower latency, while the cloud provides high-volume processing and storage. According to Intel, 5G connectivity enables resource division throughout the cloud-network-edge continuum, and its ultra-reliable low-latency features make the shorter link between the edge and the device even more efficient.

Businesses will be able to act on data insights in near real-time and minimize application delays thanks to the high speeds and ultra-low latency of 5G networks and edge processing. Meanwhile, organizations will also be able to develop and explore new markets by deploying compute wherever it makes sense, allowing for agile scalability. Furthermore, businesses will be able to unlock new services for their industry and create user experiences by leveraging the enhanced bandwidth and reliability of 5G and edge computing.

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According to the “2020 Ericsson Mobility Report,” 5G will account for around one-fifth of all mobile data traffic by 2023, with 25% of use-cases relying on edge-computing capabilities. A major chunk of new 5G revenue potential will likely come from enterprise and IoT services, of which many will depend on edge computing.

Planning for new 5G applications

Examining real-world examples and use cases in the industry is one of the best ways to strategize for new 5G applications. Once the opportunity has been identified, organizations need to decide what to do with all of the data and develop a strategy to deal with it. For example, with more accurate machine data, a manufacturer can instantly regulate and monitor industrial operations with great precision. Consider the impact on manufacturing operations if the workforce could be more effectively utilized.

Identifying a need, capitalizing on that opportunity, and then leveraging data are the first steps. A strategy is crucial to tap into all of this.

Where to begin?

Customers should be the first priority for businesses. Often the biggest potential with 5G will come from understanding how to digitize the customer experience. In terms of business processes and productivity, there are further opportunities. While the infrastructure is coming—and in many cases is already here—there is still a significant talent deficit. After identifying opportunities, businesses should ensure that their workforce is ready to develop 5G-enabled services and products. Businesses must be ready to prepare their employees for the change that is coming.

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Prangya Pandab is an Associate Editor with OnDot Media. She is a seasoned journalist with almost seven years of experience in the business news sector. Before joining ODM, she was a journalist with CNBC-TV18 for four years. She also had a brief stint with an infrastructure finance company working for their communications and branding vertical.