Taking A Look At The Industries Set To Be Impacted By The Arrival Of 5G

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Photo by Patrick Tomasso

5G is set to make a splash. This is abundantly clear from the early reports of its capabilities in comparison to what has come before. The step up from 4G to 5G is a comprehensive overhaul of the capabilities of connectivity, more than it is a simple upgrade. What the side-effects of having such extraordinarily powerful connections available to average consumers will be are difficult to identify. But they are truly of the utmost importance, particularly about the world of work. So, let’s take a look at the industries which look set to be altered significantly by the introduction of 5G.

Energy and Utilities

The power industry as a whole is closely merged to the world of connectivity and is undoubtedly going to be an area in which 5G will be making significant waves. The whole system of energy and utilities, from the production to the transmission, the distribution and the actual usage of energy, 5G can play a role to ensure faster speeds and lower costs. Monitoring of power consumption will also become significantly more accurate, as response times will speed up. The cost of consumption of energy required in the monitoring process will also reduce as everything gets quicker.

Telemedicine

As a field that is entirely reliant on the internet, it makes sense that 5g will have an impact on how it develops. “Telemedicine is all about connecting people who otherwise can’t be connected, for the efficient administering of diagnoses. 5G will massively reduce wait times and improve the ability for people from underdeveloped countries to connect with healthcare providers who have access to higher standards of practice”, explains Marcus Sotheby, tech expert at Writinity and LastMinuteWriting. There are other industries a lot like telemedicine that have only originated in the last couple of decades that rely on internet connectivity, all of which will get a big boost from the arrival of 5G connections.

Media And Entertainment

This is perhaps the biggest one on the list. “The consumption of media is not just one of the largest areas that will be impacted by the introduction of 5G, it’s actually a motivating industry, meaning that many of the advancements that have been made in the development of high-speed internet have happened in order to aid media and entertainment”, explains Jeremy Goode, business blogger at DraftBeyond and ResearchPapersUK. It doesn’t take very much imagination to picture the impact that the power of 5G will have on this industry. Streaming 4K footage without frame drops or distortions, downloading videos in a few seconds, instant streaming of music without exception, virtual reality connectivity, seamless live streaming/vlogging are just some of the things to look forward to in terms of the influence that 5G could have on media and entertainment going forward.

Finance

The impact that technology has on finance is not an area that has been underexplored by any means, but it is set to keep evolving. Banking and financial services are at the heart of most of the other industries which look like they will be affected by 5G, adding a multiplier effect to the overall impact that the new technology has. In terms of finance itself, it looks like safety will increase with 5G, allowing for more financial transactions via mobile. Similarly, the speeds will make online financial transactions instantaneous, without any lengthy wait-times for confirmation. Personalized financial services are also likely to become a crucial aspect of the change, with the potential to eventually eliminate the need for financial institutions like banks. Automated responses to finance will become so much more effective, and there is room to allow customers complete control over their financial situation, not having to wait for human confirmation, but relying on the speeds of the AI that will operate the financial systems.

Conclusion

4G was a hit with people, making life that little bit smoother, that little it more convenient. But 5G, with its immense speeds, is an altogether different beast. The speed factor, the sheer power of 5G, gives so much breathing room to other areas, allowing all manner of aspects to advance arm in arm with connectivity.

Ashley HalseyAshley Halsey is a professional tech writer, working at LuckyAssignments and GumEssays writing on all sorts of topics relating to the modernization of education and the future of EdTech. She spends most of her spare time travelling with her family and gathering information for her latest piece of writing.

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