The business world is going through both good and difficult times. There is no better time for us as professionals to implement digital transformation in our organizations given the recent significant changes in workflows and culture as well as the emergence of dynamic technologies like Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), and more.
The arrival of the eagerly anticipated 5G technology is even more exciting. We have recently seen the unlock of new potentials, standards, and capabilities to what we could collectively achieve with these technologies, with the rollout of 5G already happening across various regions.
The opportunities that 5G technology opens up for businesses may sound intriguing, but there is still some uncertainty. Let's examine how 5G & AI will help the successful implementation of IoT. It will lead to the ultimate result, i.e., digital transformation.
What does 5G mean for the Internet of Things?
It is a game-changer!
5G enables faster, more stable, and more secure connections to power everything from self-driving cars to smart grids to renewable energy and AI-enabled robots on factory floors. This unleashes a massive IoT ecosystem where networks can serve billions of connected devices with the right trade-off between speed, latency, and cost.
5G began when the International Telecommunication Union (ITU) set minimum recommendations for the new technology, further defined and standardized by the 3rd Generation Partnership Project (3GPP). Thales has played a leading role in bringing 5G to life.
The Data-Gathering Race
In essence, the internet of things is about equipping objects and machinery with sensors that provide information on position, temperature, air quality, acceleration, pressure, and anything else we might find interesting. Footballs that display the force with which they have been kicked are already available. You can use apps to open your door, and your home's alarm system can detect whether someone is home or away. These are all illustrations of the Internet of Things.
All IoT devices have one thing in common: they produce data that may one day be used to create AI learning models that can be used to make predictions, make decisions, or automate value chains. Value is created when outdated practices are replaced with improved or original goods or services or new business models emerge. The first adopters and early experimenters will be in the best positions to introduce this to the world because it has yet to be made clear what this is. Because they'll get the data first, that's why.
5g Has Advanced Past The Breaking Point
The "personal internet," particularly the data produced by our use of smartphones, has so far been the source of AI's inspiration. Soon, companies like Telenor will start constructing 5G mobile internet. The ability of the network to support the internet of things will be one of the most noticeable transitions from 4G to 5G. Compared to 4G, 5G enables up to 100 times more connected things. A 5G network can handle 1,000,000 things over one square kilometer once it is configured for it.
Utilizing a device that is electronically connected to the internet will be relatively inexpensive. Because data can be used to create AI solutions that help us optimize business or predict problems, the cost may actually be so low that it is economically viable to equip all parking spaces with a sensor that registers whether they are available or to track all cases of fresh fish from the fish farming facility to the freezer.
3 Ways 5g Complements Your Company's Digital Transformation
With all the talk about 5G technology, we all know that 5G is 20 times faster than its predecessor. Although the current generation is efficient, some things could be improved regarding latency and response time. We are now experiencing the release of systems such as embedded devices, advanced algorithms, IoT devices, and more. The unifying factor of all of them is the need for real-time data generation, transfer, and processing. 5G will perfectly meet this requirement with its ultra-high bandwidth, speed, and low latency. Real-time data processing will become a reality no matter how far the system is installed.
Industrial automation and 5G
In today's Industry 4.0, one of the integral aspects of business transformation is the introduction of industrial automation. For manufacturing companies and supply chain and logistics organizations, automation is important. 5G, combined with artificial intelligence and the Internet of Things, can help with proactive analytics where algorithms can pinpoint the likelihood of machine failure, independently schedule maintenance and upkeep, monitor machine health, and more.
More Data For More Results
There is no denying the explosiveness of data generation in organizations. Using the capabilities of 5G combined with technologies such as IoT and artificial intelligence will optimize how data is processed. In addition, developers can create and implement advanced applications and proprietary software to produce highly specific results based on the processed data. It can be as customer-centric as behavioral data used to optimize the customer experience or as specific as employee data used to address attrition, the gender pay gap, and more.
An Enhanced Future
A "perfect technological storm" and a significant opportunity for value creation, 5G, IoT, and AI work best when combined. The connection of many "things" is made possible by low cost and enormous capacity. This generates data that can be used to create innovative AI services & solutions that can improve industry efficiency, transportation efficiency, and the suitability of goods and services to human needs.
The difficulty in managing this perfect storm is that it presents an opportunity that society should be in a position to take advantage of. However, for this to happen, countries must develop strategies that prioritize research and development, provide more study spaces, and encourage businesses and the bureaucracy to recognize that they must pay attention to the inevitable need for the digital transformation road.