Title:The Economics of the Fifth Generation Cellular Network
TitleEtc:, Professor, Bryan School of Business and Economics, University of North Carolina-Greensboro, USA
Abstract:The Fifth Generation (5G) cellular services are expected to be commercially available in developed countries from as early as the late 2018. The development of 5G networks, platforms and devices certainly require high investments. There are, however, important economic benefits as well as psychological or intangible benefits associated with 5G. The proposed presentation will review these benefits. It will analyze how 5G services, singly or in combination with other technologies, are likely to have a transformative impact on a number of online activities. Especially it will look at how 5G can be combined with artificial intelligence (AI), Internet of Things (IoT), blockchain and augmented reality (AR)/virtual reality (VR) to transform consumer experience.
It will discuss how 5G's faster data-transmission speed will make it easier to transfer data created by IoT devices. In the case of AI, it delves into how 5G's faster speed will make it possible to access additional information quicker and understand the environment and the context better. The presentation will demonstrate how 5G can play a key role in feeding the information (e.g., from IoT devices) required for a blockchain-based smart contracts more efficiently. Finally, in the context of AR/VR, the presentation will discuss how 5G networks’ higher bandwidth, reduced latency and higher degree of uniformity (mobile connection’s consistency across locations) make it easier to deal with the complex worlds and sophisticated inputs that require processing of huge amounts of data.