The transformative impact of 5G technology on business operations and industry innovation
1 Independent Researcher, London, United Kingdom.
2 Independent Telecommunications Engineer and Data Analyst, United Kingdom.
3 MTN, Lagos Nigeria.
4 Atlantic Technological University, Letterkenny, Ireland.
5 Independent Researcher, Lagos.
Review
International Journal of Frontiers in Engineering and Technology Research, 2024, 07(01), 033–052.
Article DOI: 10.53294/ijfetr.2024.7.1.0039
Publication history:
Received on 30 June 2024; revised on 05 August 2024; accepted on 08 August 2024
Abstract:
The advent of 5G technology marks a significant milestone in the evolution of telecommunications, offering unprecedented opportunities for transforming business operations and fostering industry innovation. This paper aims to explore the multifaceted impact of 5G technology on various business sectors, analyzing how its enhanced capabilities—such as ultra-low latency, high-speed connectivity, and massive device connectivity—are revolutionizing traditional business models and operational frameworks.
The research methodology comprises a comprehensive literature review, case studies of early 5G adopters, and empirical analysis of industry-specific applications. Key industries examined include manufacturing, healthcare, logistics, and retail, where the deployment of 5G technology has demonstrated substantial improvements in efficiency, productivity, and customer engagement. For instance, in manufacturing, 5G enables real-time monitoring and predictive maintenance through IoT integration, significantly reducing downtime and operational costs. In healthcare, 5G supports telemedicine and remote surgeries, enhancing patient care and accessibility.
Our findings indicate that businesses leveraging 5G technology are witnessing accelerated digital transformation, with significant competitive advantages and innovation capabilities. However, the transition also presents challenges such as high infrastructure costs, cybersecurity risks, and the need for regulatory alignment.
The transformative impact of 5G technology on business operations and industry innovation is profound, heralding a new era of connectivity and smart solutions. To fully realize its potential, businesses must strategically invest in 5G infrastructure, address security concerns, and foster a collaborative ecosystem among stakeholders. This paper provides valuable insights for policymakers, industry leaders, and researchers to navigate the complexities and harness the benefits of 5G technology in the modern business landscape.
Keywords:
5G Technology; Business Operations; Industry Innovation; Internet of Things (IoT); Smart Cities; Telemedicine; Remote Patient Monitoring; Autonomous Vehicles; Advanced Driver-Assistance Systems (ADAS); Augmented Reality (AR); Virtual Reality (VR); Smart Factories; Public-Private Partnerships (PPPs); Infrastructure Development; Regulatory Frameworks; Spectrum Allocation; Cybersecurity; Real-time Data Exchange; Economic Growth; Global Connectivity
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Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0