5G is often predicted as the basis for innovation in the "Fourth Industrial Revolution". This is a statement that is no joke. Even though we all know that 5G will bring significant changes, many of us still don't know how it will concretely help the industry.
The same was the case with 4G initially. Innovation is born on network stability. Nobody expected streaming, ride-hailing, and social media to be the cutting-edge apps of the 4G era. And pioneers in 4G, mostly in the US and China, have become big winners in the stretching economy based on digital applications. The same dynamics will be played out with 5G, on a grand scale.
Create Jobs and Profits
Across the digital economy, 5G networks will be of equal importance for companies as 4G is indispensable for smartphone users. It is projected by the World Economic Forum that by 2030, two-thirds of the global workforce will use the 5G platform.
For industry, the first 5G pioneers will enjoy industry leadership with a global scale horizontal platform. This is already a reality in manufacturing and production, electronics, and the automotive industry. It is also estimated that industry digitization will generate a US $ 700 billion (or around Rp.9,800 trillion) market opportunity aimed at providers by 2030.
However, innovations on the 5G network will increase the possibility of a collision with the prevailing regulations in business competition. There are three things that can happen:
However, the interests of the state basically place each party to conform to the law for the sake of creating the public interest. In innovation in the communication industry, the public interest is to get a 5G technology network.
5G will change lives
5G will be a mandatory basis for competing on the world stage going forward. With this in mind, regulators must ensure the fast development of 5G. A good network is just as important for civic life, as are roads, electricity networks, and airports. And governments can support their development with a variety of policies, from funding a 5G pilot, for example.
The changes that 5G and the Fourth Industrial Revolution are making include creating jobs, increasing and expanding access to healthcare. It will also help reduce carbon emissions, improve education and improve the quality of life in cities around the world. With countries around the world already implementing 5G services, this is an important window for synchronization. It needs digital talents and new startups to support it. Are you one of them?