5G’s faster speed, lower latency and ability to connect vastly higher numbers of devices has given us a glimpse of a more efficient and productive future. And as 5G’s adoption and rollout accelerate, it’s time to give a thoughtful look into its economic potential.
Researchers at PricewaterhouseCoopers (PwC) did just that, focusing on 5 major industries (healthcare, smart utilities, consumer and media, industrial manufacturing and financial services) that are considered the most likely to benefit from 5G. Within the financial world, 5G is likely to result in redesigned consumer experiences that are virtual. This, in turn, has the potential to reduce costly physical channels, thereby increasing financial access and reducing costs associated with financing. 5G is also expected to support higher-powered financial solutions (such as AI-powered robo-services) and reduce losses from fraud. Find out more about the expected economic impact of 5G here.