For connected global businesses, 5G and AI (artificial intelligence) will arguably be the two most transformative technologies to come out of the digital era.
5G's faster speeds, lower latency and greater capacity will support exponentially more wireless devices than ever before. In turn, this is expected to help bring about Industry 4.0 and the true Internet of Things era, where almost any technology can become a wireless data collector providing invaluable business insights.
Meanwhile, AI in business is already transforming many functions—from automating repetitive back-end operations with robotic process automation, to powering chatbots for improved customer service, to using big data and machine learning to find and implement operational efficiencies.
How can your business grow by combining 5G and AI in order to reach markets you've only dreamed of?
Combining both technologies
Individually, 5G and AI are game-changing technologies; together, they can become truly transformative. With scalable bandwidth and remote computing power, 5G can facilitate more data collection, while the proliferation of AI should harness this information to generate business intelligence and increased revenues.
In manufacturing, for example, combining AI and 5G can mean that factory floor robots can work wirelessly, reliably and safely, collecting data and communicating with their surrounding environment, while using AI applications to analyze data and independently problem-solve in real-time. This can prevent failures and increase productivity. Additionally, it will build in flexibility as wireless, reprogrammable machines are more easily adapted to new tasks, opening up business opportunities.
Improving customer experience
5G and AI are also expected to be invaluable for enhancing customer experiences. Global AI in the retail market is expected to grow at a compound annual growth rate of 34.4% from 2020 to reach $19.9 billion by 2027, according to a report by Research and Markets. Driven by the increasing number of internet users, the adoption of smart devices and advances in technology across retail chains, both technologies can help retailers digitally connect the shop floor to collect data and improve the customer shopping experience with emerging technologies such as holograms and virtual reality. Harnessing both technologies to this end can help businesses, from retail and beyond, to provide hyper-personalized services and collect data to inform business decision-making, such as predicting demand and when and to whom to promote specific products.
Security
Cyber security risks can also be mitigated through the combination of 5G and AI—a challenge that will inevitably grow in prevalence as things become more internet-connected. AI can autonomously detect threats and neutralize an attack instantly, helping manage the increasing threat from hackers that would be hard, if not impossible, to manage by human effort alone.
Building a new future
AI coupled with 5G can be a disruptive force in the marketplace and should help businesses around the globe reimagine and deploy hyper-automated and immersive customer experiences. These, in turn, should help businesses differentiate themselves from the competition. As 5G continues to roll out across the United States and the world, it may not be long before we see AI reach its full potential while accelerating innovation in every industry.
Learn more about how AI is already improving the customer experience and leading businesses into a brighter tomorrow.