5G and Its’ Impact on SMEs
At the recent SG Digital Industry Day on 17th October 2019, Minister for Communications and Information S Iswaran announced that there will be 5G coverage across at least half of Singapore by the end of 2022.
But what is ‘5G’ and how does it affect your organisation?
Here’s our quick take:
1. What is ‘5G’?
Simply put, 5G is the fifth-generation of mobile internet connectivity, providing much faster data speeds, wider coverage, and more stable connections.
2. What’s the difference of 5G to 4G?
5G networks are 20x faster than 4G. The 5G network can transfer up to 10GB of data each second and this means that any device or platform running on 5G will have dramatically lower latency (lag) than on 4G, a key game-changer for organisations.
5G also connects to more devices than 4G – 5G connects to 1,000,000 devices per .38 square miles, compared to 2,000 devices with 4G.
3. What will 5G be used for?
We can expect every device and machine to be 5G-enabled in due time.
However, the immediate application of 5G is targeted to support and enhance industrial operations like smart machines, smart warehouses or ports, driverless / remote-operated vehicles (not just cars, but even cranes and tiny remote surgical robots.)
4. How will 5G affect my business?
5G technology will enable companies to not just track large volumes of data, but also use and manipulate big data to analyse minute aspects of their business.
Businesses which already possess compatible systems to support IoT (Internet of Things), advanced analytics and artificial intelligence will enjoy explosive growth and a widening lead over companies which are digital laggards. 5G’s more powerful connectivity will open gateways for companies which are digital leaders to develop groundbreaking solutions for their respective industries.
To mitigate the potential risk of your organisation falling behind in digitisation, we encourage all SMEs to review their internal processes and systems and ensure that they are on a system which can record data in each stage of their operations accurately (yes, this means no legacy systems or systems more than 10 years old).
This can help to ensure that when it comes to the time when companies have to digitise operations speedily, your business will not be left behind.
If you would like to find out more, feel free to contact our team for a free consultation.