The 5G Race

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The 5G wave is coming on fast, and seemingly out of nowhere, but what does it mean for your business?

It seems as though countries around the world are racing to see who can set up a 5G infrastructure first. In a recent statement, President Trump announced, “The race for 5G is on, and America must win.” Following this new federal plans have been made to expedite the process of creating the framework for the 5th generation of internet networks. 

Meredith Attwell Baker, CEO, and president of the Cellular Telecommunications Industry Association (CTIA) stated: “5G is the platform for tomorrow’s economy.” She continued, “It’s going to transform everything from education to AI to medicine, and the industry is so competitive because of that.”

While the U.S. is now neck in neck with other countries this is a recent change. For the better half of a decade, the U.S. was behind the pack while countries like China, Japan, and Korea have been making incremental changes dating back to 2010-2013

These accelerated improvements to the U.S. network come with risks.  Taking this into consideration the U.S. has banned components created by specific Chinese companies.  

Is this “race” as crucial as we are being lead to believe? The Washington Post reports, “Some analysts argue that telecom giants are using “5G hype” to push aside regulations that protect many Americans. For example, the Federal Communications Commission ruled that cities must quickly approve or deny requests to deploy 5G infrastructure, and prohibited denying requests based on concerns about historic preservation or environmental health.”

In addition to this, the Post notes that the race deludes the issue that U.S. citizens experience high costs for internet and additionally pay more than most of Europe and sections of Asia  

The biggest benefit to businesses will be decreased Latency.  Latency is the amount of time it takes data to get to its destination. With the increased speeds of 5G latency will reduce, increasing the speed at which devices communicate. For businesses that utilize multiple devices this upgrade will be extremely useful.   

Industries that rely heavily on digital connections should find the improvement to be useful. Businesses within the medical field, banks, or those that rely on cloud-based services. Additionally increased network speeds improve companies who are working to advance technology when it comes to AI and self-driving cars.  The Verge reports that Verizon already has installed 5G in major cities like Denver, ProvidenceSt. PaulMinneapolis, and Chicago.

For more updates on 5G and marketing news, subscribe to the Holler Hustle.

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