IT in GE Upcoming network systems and impact on the global economy

IT in GE

Upcoming network systems and impact on the global economy

Upcoming network systems and impact on the global economy

In the coming 5-10 years, 5G networks will probably rule the world of technology. 5G is often regarded as the “network of networks” since it is effective enough to bind future standards and the existing standards together. It also includes advanced LTE networks (4G). 5G cannot be regarded as the extension of 4G or 3G. Rather, it can be regarded as a combination of networks that includes 4G and Wi-Fi, along with millimeter wave and wireless access technology. The 5G network would be effective enough to leverage various components, including virtualized networks, cloud infrastructure, and intelligent edge services (Agiwal, Roy & Saxena, 2016). The network is effective enough to open new cases, including a fast mobile broadband that does not require landlines and smart factories. Along with that, in the coming years, cars would be communicated with infrastructure, and self-driving vehicles would become common as well. Again, it would be common to see new arrivals such as 5G phones along with 5G TVs. Patients will gain access to health care systems effectively. Society is moving towards the fifth generation of technology or rather new systems of mobile networking. It would be possible to fuse high-speed data with the computation of devices.

5G networks are the future due to its unique features. Firstly, it ensures faster speed in comparison to the previous generation of networks. It has been estimated that the speed of 5G is equivalent to 10Gb/s. It implies that users have the option of downloading a HD movie less than 10 seconds. Previously, users used to spend 10 minutes to download movies on 4G networks. Again, 5G ensures lower latency. For example, in the case of 4G, the latency period is 40-50 milliseconds; however, in case of 5G, the latency period would be lesser than 1 millisecond (Andrews et al., 2014). The network ensures a higher capacity. It implies that the coping mechanism of the network is high when the demands of applications rise. For example, in the case of IoT or connected cars or any other experience that involves virtual reality, 5G is capable of meeting the needs of the systems. .

In the case of the global economy, it can be anticipated that small and large businesses would be positively affected, and this, in turn, will have an optimum impact on the economy. Technology can be regarded as a disruptive technology, and it can support the SmartCity infrastructure across the developed nation like America. It has the potential to revolutionize the entire service industry within the next 5-10 years. It provides a tremendous opportunity to businesses due to its large-scale disruption capacity. By 2024, it will enable robotic surgery along with the systematic adoption of fully-automated cars. The global economy is operating smoothly because of the combined services of various industries such as manufacturing, retail, healthcare, education, transportation, real estate, supply chain management, financial services, agriculture, gaming, AR/VR, and cloud computing (Campbell et al., 2017). Therefore, the positive impact of 5G networks on these industries would definitely improve the economic state of the world. Businesses with 5G wireless networks will create a digital economy in the coming years.

References

Agiwal, M., Roy, A., & Saxena, N. (2016). Next generation 5G wireless networks: A comprehensive survey. IEEE Communications Surveys & Tutorials, 18(3), 1617-1655.

Andrews, J. G., Buzzi, S., Choi, W., Hanly, S. V., Lozano, A., Soong, A. C., & Zhang, J. C. (2014). What will 5G be?. IEEE Journal on selected areas in communications, 32(6), 1065-1082.

Campbell, K., Diffley, J., Flanagan, B., Morelli, B., O’Neil, B., & Sideco, F. (2017). The 5G economy: How 5G technology will contribute to the global economy. In IHS Economics and IHS Technology. Qualcomm Technologies.