Revolutions in technology have made enormous progress in every field. The recent and most talked about technology is 5G which has tremendous opportunities and scope when it comes to start ups. 5G is the marketing term for the fifth generation of mobile networks and will offer much higher speeds than currently available speed on 4G.

Our world is already mobile, with over 30 billion connected devices and, with usage cases for IoT- technology expected to keep growing, the existing spectrum will continue to be congested by network traffic and lead to maintenance and reliability issues. 5G will allow more simultaneous device connections, and towers are significantly smaller and can be installed in a wider variety of places. While these technologies have been around for some time, the 5G network is expected to drive exponential development, scalability, and adoption of these technologies.

The development of 5G technology will bring changes in the business models. Startups will rather work on sophisticated tools which will eventually reduce the costs.  More processing will happen on the cloud rather than at device level, exponentially reducing software and hardware costs. And by freeing up the lower end of the electronic spectrum, 5G will make it easier to build a massive network of IoT-connected devices.

The opportunity for telecommunications companies to harness the 5G market is obvious, and they’re moving fast to roll out their networks and get staffs ready for changes. Many companies are training their skilled workers to adapt to the change. The swift transition to 5G will allow new players to move into old industries and adopt disruptive business models. A new working and changing pattern is needed for the startups to prepare if they want to reap the full benefits of the 5G revolution, and they need to start now.

According to research from Statista around 627 million people is expected to use 5G by 2022. Training schemes and clear communication strategies are vital for getting started.

The transformation of the older system to 5G need to be coordinated, and ways of doing things might have to be abandoned to make companies more agile. The companies should set up the processes that will enable them to make a success of 5G technology and make sure every department adapts in response. According to Korn Ferry research, demand for skilled labor across the world is expected to exceed supply by more than 85.2 million people by the year 2030. Company leaders need to support their employees to ensure they don’t suffer the consequences of that shortage. There will always be a learning curve for employees adjusting to new technology and processes in business. Training becomes a vital part in the 5 G adaptation process. The widespread adoption of 5G technology will transform the business world over the next three to four years, so companies that want to experience the benefits need to get ready now. The future, in the case of 5G, depends on the present.

 Source- Omnes Editor