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.
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:
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:
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!
Daniel Burrus is considered one of the world’s leading futurists on global trends and innovation. The New York Times has referred to him as one of the top three business gurus in the highest demand as a speaker. He is a strategic advisor to executives from Fortune 500 companies, helping them to accelerate innovation and results by develop game-changing strategies based on his proven methodologies for capitalizing on technology innovations and their future impact. His client list includes companies such as Microsoft, GE, American Express, Google, Deloitte, Procter & Gamble, Honda, and IBM. He is the author of seven books, including The New York Times and Wall Street Journal best-seller Flash Foresight, and his latest book The Anticipatory Organization. He is a featured writer with millions of monthly readers on the topics of innovation, change and the future and has appeared in Harvard Business Review, Wired, CNBC, and Huffington Post to name a few. He has been the featured subject of several PBS television specials and has appeared on programs such as CNN, Fox Business, and Bloomberg, and is quoted in a variety of publications, including The Wall Street Journal, Financial Times, Fortune, and Forbes. He has founded six businesses, four of which were national leaders in the United States in the first year. He is the CEO of Burrus Research, a research and consulting firm that monitors global advancements in technology driven trends to help clients profit from technological, social and business forces that are converging to create enormous, untapped opportunities. In 1983 he became the first and only futurist to accurately identify the twenty technologies that would become the driving force of business and economic change for decades to come. He also linked exponential computing advances to economic value creation. His specialties are technology-driven trends, strategic innovation, strategic advising and planning, business keynote presentations.