5G to enhance enterprise digital transformation

THE year 2020 is when 5G goes mainstream. In April, South Korea passed six million 5G subscribers with 10 per cent penetration, and published statistics showed 25 per cent of all mobile traffic in South Korea is now on 5G networks. In China, it was reported that 198,000 5G base stations have been built, with its mobile 5G subscriber base reaching 50 million. Within South-east Asia, 5G licences were awarded in Thailand and Singapore in February and April respectively, and the Philippines already has commercial offers available in the market.

The key business case for 5G is the significant value creation expected from 5G adoption by enterprises and the reduction in cost per bit on consumer applications, especially in dense urban areas. 5G will enhance existing services for enterprises, re-invigorating the core business and amplifying competitive edge. Key areas where this enhancement is happening include telemedicine (where real-time data transfers and video consultations are performed to improve healthcare in remote areas in Wuhan, China) and virtual banking (where smart virtual branches using 5G, 4K video and virtual reality (VR) are being explored by banks and telcos collaborating across various parts of the world).

5G can be used to facilitate re-imagination and creation of a new ecosystem that will allow for product innovation, new business models and revenue streams. For instance, manufacturers can leverage 5G-enabled AR (augmented realities)/VR functionalities on the factory floors to innovate and enhance product design.