These are key benefits that can facilitate progress in a number of areas.
- Healthcare technology – robots performing remote or intricate surgery isn't just science fiction; they exist, but that service hasn't yet expanded because of the limitations of connectivity. On a 4G network, when you're making an incision and there's a few seconds delay in relaying that instruction, or worse, the signal drops, it can be catastrophic. The speed, reliability and reduced latency offered by 5G takes care of that, opening up the potential for more responsive, accessible and cost-efficient healthcare.
- Gaming – whether it's a hobby or a career choice, success or victory can be decided by reaction time. As gaming becomes a global money-spinner and professional leagues and tournaments grow, any delay between a player clicking a button and something happening on the screen, is not just frustrating, but costly. Gamers crave the immediacy 5G offers and in a sector that transcends national boundaries, enhanced connectivity can provide a competitive edge.
- Smart Cities – they simply can't exist without 5G. It lets multiple devices connect simultaneously, allowing the density of devices that enable smart cities to function. It not only permits numerous personal devices to operate seamlessly, but enables sensors to communicate virtually in real time, helping the management and monitoring of traffic or resources.
- Internet of Things (IoT) – the hardware and software advances of the IoT, enabling transformations like the Fourth Industrial Revolution, are out there, just waiting for the connectivity to enable and optimise them. 5G can help activate huge networks of interconnected devices, it can boost machine learning and transform AI, creating greater efficiency and productivity by reducing downtime and increasing responsiveness. The benefits of speed, low latency, capacity and energy efficiency will change the way we live and work – from your fridge telling your mobile phone that you're out of milk or even placing an order, to robots ‘talking' to each other on a factory floor.
- Autonomous vehicles – one of the main barriers in the development of autonomous vehicles has been sufficient network capacity to rapidly process large amounts of data and make speedy decisions. 5G enables fast communication, without delay, which is essential to navigating our roads safely in real time.
- Virtual private network – 5G will allow the creation of virtual networks within the same physical network, incorporating the business's cloud functionality through slicing. This secure private network will have far greater capacity and enable a large number of devices, machines robots and people to be connected and interact simultaneously. Facilities can become fully integrated and automated, enabling greater data capture potential and analysis, thus providing deeper insights and additional business benefits.
"It's time we started to see 5G as the enabling technology we've all been waiting for to bring these other innovations together and allow their transformational potential to be realised," says Kevin Lyne-Smith, Managing Director, Global Head of Equities, HSBC. "Various factors, such as Apple's launch of the 5G enabled iPhone and the impact Covid-19 has had on accelerated technology trends mean that we've reached a tipping point where investment in 5G – both in terms of infrastructure and the technologies to utilise it – could be set to take off.
"This is the first wave, where the technologies we already have waiting for 5G to maximise their full potential will be activated. The second wave will build on that as people see the benefits and identify new opportunities. New innovations will plug gaps and enhance services, and this will drive personal and corporate productivity."
To discuss any of the issues raised, please get in touch with your Relationship Manager.