The race to develop the 5G technology is quickly coming to fruition, with 5G wireless networks beginning to roll out in 2019.
With promises of integration with artificial intelligence, augmented reality and lightning-fast speeds, the potential of 5G technology seems limitless.
Below are five great ways that 5G could benefit your small business.
#1 Faster and More Effective Communication
As a small business owner, you know that fast and reliable communication is essential.
New 5G technology can help your company improve not only communication speed but also effectiveness and efficiency.
With 5G, you will be able to easily stream high-res videos, images or audio between employees or with clients almost instantaneously.
Imagine the possibilities when you can walk your clients through a virtual rendition of a project or deliver high-resolution photos or videos in the blink of an eye.
Business meetings and employee training can also move to the next level with multimedia presentations, augmented reality and the use of artificial intelligence that current network speeds don’t allow.
#2 Reaching New Heights in Innovation
To succeed in today’s rapidly changing world, every small business needs to strive for increasing levels of innovation.
With the 5G technology, you will have access to augmented and virtual reality possibilities, including headsets, drones, wearable technology, and even holograms – things only previously seen in science fiction.
With these innovations, you can move beyond paper and pencil or computer-generated blueprints and mock-ups to being able to take your clients on a realistic tour of your proposed project.
Realtors might use this technology to give tours to potential home-buyers in other states.
Your business could even have meetings with overseas clients or colleagues and make it seem like they are right in the room with you.
#3 Improved Business Efficiency
As the old saying goes, “time is money”. Never is this truer than when your business is losing money due to slow networks, poor communication or delays in getting critical information from person to person.
Data sharing is one way to increase efficiency, but current network speeds and limits mean that large files can take hours to upload and then to download again, even with cloud computing technology.
With 5G, large files will be in the cloud within seconds, or even milliseconds, saving your business both time and money and driving productivity sky-high.
This also makes real-time data backups possible, making your business more secure and less vulnerable to data breaches or loss.
If your business uses transportation or delivery services, 5G can also open up the possibility for driverless cars and options that rely on real-time communication and data access.
This can mean quicker delivery time and increased profits for you, while also sharply increasing customer satisfaction.
#4 Professional Development and Training
Every business owner wants the highest-qualified and best-trained talent. With new and better technology, your ability to recruit, engage and train the top talent in the field also improves.
Using 5G technology can remove barriers to recruitment but allowing you to interview and assess talent anywhere in the world.
With 5G, you can also keep your employees connected, allowing them to work remotely.
Instead of sending employees overseas on business, 5G technology can allow them to accomplish the same goals through the use of augmented reality, reliable conference calls or other high-tech means.
Emerging technology can also be instrumental in providing professional development and training opportunities to bridge gaps, learn new skills and practice new techniques in a way that is engaging, hands-on and realistic.
#5 Expanded Connectivity Capabilities
Finally, 5G paves the way for increased connectivity. Using IoT technology.
IoT, also known as the Internet of things, Industrial Internet, Pervasive Internet or M2M/machine-to-machine, is already being used now to connect tablets, smartphones, PCs, smartwatches and security systems.
With faster connection speeds, businesses can use IoT to save money and time, implement innovative solutions to problems and improve performance.
With expanded IoT use, you can connect your employees through wearables that can help them communicate and work together more efficiently.
Your ability to use robots in your warehouse or office also increases with the expanded ability to use wireless sensors and smart technology to do tasks that currently can only be done by humans.
This leaves human talent time to dedicate to work on innovation in your company.
Expanded use of IoT capabilities can also increase safety and lower risk in your business by connecting motion sensors, smart scales, thermostats, security alarms, smoke detectors, or flood warnings.
With the ability to monitor your business and being alerted at the first sign of trouble, you can intervene immediately, reducing the risk of loss and improving safety for your employees and customers.
Today’s small businesses are constantly striving to be on the cutting edge of innovation and creativity.
They are often at the forefront of developing opportunities for solving problems while connecting and developing personal relationships with clients and their local communities.
With upcoming 5G technology, your business can reach new heights with increased profitability, safety, and connectivity, new ways to solve problems, expanded and more efficient warehouse infrastructure and real-time ways to monitor and improve customer satisfaction.
By ensuring that your business is ready to accept and capitalize on these new technologies, you can be more connected, more efficient and more productive than ever before.