Bruno Michieli Examines the Potential Benefits of 5G Technology for Business
Monday, June 1, 2020 10:45 PM
SINGAPORE / ACCESSWIRE / June 1, 2020 / The concept of fifth-generation (5G) mobile networks has been around for more than a decade, but the successor to 4G came to truly dominate the mobile wireless conversation in the past five years, with most of the discourse focusing on the tremendous benefits consumers stand to reap. However, the lasting shift to mobile devices has already transformed the business landscape, giving rise to new entrepreneurial models and driving momentous change across multiple industries due to data-driven insights. "Although 5G networks have been deployed in more than 30 countries so far, extensive global coverage is likely several years away," comments Bruno Michieli, a seasoned business executive active in the technology and private equity industries. "Looking on the bright side, this provides enterprises with a window of opportunity to prepare for 5G through carefully targeted investments in infrastructure and human resources, thus positioning themselves to fully capitalize on the benefits of the new technology."
As one of the companies actively developing solutions to support the 5G standard, Qualcomm commissioned a study back in 2016 to explore the anticipated impact of the new generation of wireless connectivity and the opportunities it would create for corporations, governments, the global economy, and society at large. Even in those early days, the researchers discovered a strongly held belief that 5G would be "a fundamental game-changer." In terms of business benefits alone, 91% of respondents in the survey said the technology would help create new products and services, 87% believed that new industries would emerge, and 82% saw growth for small businesses and stronger global competition. Furthermore, 85% stated that 5G would make companies more competitive while 89% projected increased productivity.
In a statement announcing the publication of the study, Qualcomm also noted, "In 2035, when 5G's full economic benefit should be realized across the globe, a broad range of industries - from retail to education, transportation to entertainment, and everything in between - could produce up to $12.3 trillion worth of goods and services enabled by 5G. The 5G value chain itself is seen as generating up to $3.5 trillion in revenue in 2035, supporting as many as 22 million jobs. Over time, 5G will boost real global GDP growth by $3 trillion dollars cumulatively from 2020 to 2035, roughly the equivalent of adding an economy the size of India to the world in today's dollars."
Aside from its potential to deliver Gigabit-class connectivity, 5G also offers ultra-low latency, superior reliability, and enormous network capacity, all of which are critical in the Internet of Things (IoT) age, Bruno Michieli points out. According to data from Statista, the number of connected devices worldwide will reach 75.4 billion by 2025, rising fivefold over ten years. With support from 5G, there will be massive opportunities for virtual reality (VR) and augmented reality (AR) applications for the benefit of industries such as retail, real estate, entertainment, gaming, manufacturing, and tourism. The reliability and low latency of 5G networks are also essential in supporting mission-critical communications, paving the way for transformative developments such as remote control of vital infrastructure, vehicles, and medical procedures. In a study conducted in 2018, Gartner found that 66% of corporations planned to deploy 5G by 2020, with "networks to be mainly used for IoT communications and video, with operational efficiency being the key driver."
Bruno Michieli has been perfecting his business executive skills through more than two decades, proving his talent to identify and realize profitable investment opportunities and implement operational improvement initiatives. He has built an impressive track record in the technology and private equity industries, demonstrating his ability to deliver excellent outcomes in areas such as digital strategy, business planning, e-commerce, and entrepreneurship. Since 2006, Bruno Michieli has served as the CEO of Openlot Ventures (Asia) Pte Ltd - a private equity outfit focused on the leisure and gaming technology sector in Singapore and Hong Kong.
Bruno Michieli - Singapore - Professional Profile - LinkedIn: https://www.linkedin.com/in/bruno-michieli-76934b
Bruno Michieli Comments on Factors Driving Investment in Gaming Technology Sector: https://finance.yahoo.com/news/bruno-michieli-comments-factors-driving-162000455.html
Bruno Michieli Examines the Outlook for Private Equity in APAC Region: https://finance.yahoo.com/news/bruno-michieli-examines-outlook-private-230000089.html
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SOURCE: Bruno Michieli