As the next evolution in mobile networking, 5G delivers more than just faster speeds. It creates new business opportunities too. So, how should your IT team use 5G to take advantage of this potential?
5G is about more than mobile network speed. Sure, it’s fast. But your IT team is leaving a lot of ROI on the table if that’s the only reason it implements 5G. Because it creates the potential for never-before-seen mobile data and device use cases. And that means new business opportunities, too.
5G will give you the ability to launch revolutionary products and services, sell to new audiences, and increase employee productivity. But only if your IT team is ready to take advantage of the 5G trend.
While the next generation of mobile networking may still be a way off for your business, knowing what 5G can offer ahead of time is a good first step toward IT preparation. Implemented effectively, 5G can help you accelerate IT operations to deliver a variety of business benefits.
5G Speeds Up IT
5G will be instrumental in advancing your tech environment. Innovations like autonomous driving, smart cities, robotics, blockchain, wearables, industrial Internet of Things (IoT), smart factories, and AR/VR/MR will all become more efficient. And that means they’re each more likely to make a lasting enterprise impact, too.
More than any other technology, however, mobility will have the speed and infrastructure support to become general-purpose technology. These devices will replace their desktop alternatives entirely, making them equally as important as electricity for any business. In turn, these devices will help your employees work more productively than ever – saving you money while simultaneously increasing revenue.
This also means the remote working trend will continue to take off as 5G makes mobile connectivity even more seamless than it already is. With 5G, your IT team will have the tools to provide continuous, reliable, and lightning-quick internet to every user. No more suffering to keep rural workers and traveling salespeople connected.
Network slicing will also make it possible for your IT team to practically own a private business 5G network that’s set up to address your specific business needs. That’s because 5G uses network bandwidth more intelligently by making it possible to assign only the resources needed for individual applications – making advanced tech like IoT even more valuable than it currently is.
Plus, 5G’s shift to a software-based networking environment brings lower overhead costs for mobile operators. And that creates savings for you and any customers you choose to pass them along to.
The Business Benefits of 5G
By 2035, Qualcomm predicts that 5G could support more than $12 trillion worth of industrial goods and services – leading to $3.5 trillion in additional revenue value and as many as 22 million jobs around the world. But that’s not all.
When asked about the potential business impact of 5G, over 3,500 decision-makers, IT analysts, and tech support agents are already experiencing benefits such as:
- New product and services offerings
- New industries
- Revenue growth
- More global competition
- Increased productivity
But these competitive advantages don’t just happen overnight. Even if your IT team is using 5G-compatible devices. You need to take some very specific steps to make the most of your 5G investments going forward.
How to Prepare for Your 5G-Fueled Future
5G technology can help your IT team increase efficiency, productivity, cost savings, and overall innovation across the business. But only 28% of organizations understand 5G and how to take advantage of the potential it offers. So, there’s a good chance you’re not doing everything you could be to make 5G a success.
Fortunately, we can help. In order to maximize the ROI of your 5G launch, follow these five steps:
- Budget for your initiative. While it may sound obvious, 5G hardware is going to be more expensive than 4G-compatible devices. That means your IT team needs to revisit its budget to ensure all 5G-ready equipment can be purchased as soon as possible.
- Plan for automation and AI. Because 5G lowers mobile network latency, you’ll be able to use this bandwidth in new ways. Your IT team should have a plan to rethink traditional processes and insert advanced tech that increases efficiency wherever possible.
- Understand your data. 5G means more data being stored, communicated, and generated than ever. As this information grows increasingly valuable, your IT team needs advanced analytics tools to be able to make sense of these new insights.
- Prioritize employee education. While the bulk of 5G implementation falls on your IT team’s shoulders, innovation is everyone’s job. So be sure all business leaders and involved employees understand what 5G is, how it impacts your business, and how they can use it to support their individual goals and responsibilities.
- Build your 5G strategy. The future is uncertain. While everyone has their 5G predictions, nobody can be 100% sure of the value it offers. Explore its potential impact on your organization to make any necessary changes or adjustments.
Whether your IT team deploys 5G tomorrow or five years from now, this technology is coming. And if you’re not ready to maximize its impact, you’re going to fall behind more savvy competitors and IT experts. Schedule your FileWave platform demo now to see how we can help you build a mobile-first future filled with opportunity.