Know how 5G is going to revolutionise the small business landscape
As the world is gearing towards adopting 5G technology, India isn’t far behind. While countries like Japan, South Korea and China are expected to commence 5G operations in the next 1-2 years, India is expected to launch it by 2022.
Including AI, machine communication and virtual reality, here’s how 5G will revolutionise the small business landscape in the country.
Foster quicker business communication
Right from communicating with customers to employees to various stakeholders, even if they are in a remote location, is essential for productivity and success. With 5G in place, you can stream high-end videos, audio and images in the real time, without any lag, thus reaching out to everyone who matters.
Faster speed and enhanced coverage through 5G will foster better and improved communication with employees,customers and various stakeholders for better business outcomes.
Internet of Things or IoT is an integral part of 5G. With devices getting ‘smarter’ and coming online, more date is going to be generated than ever before. 5G is expected to better cater tothe increasing connectivity requirements of businesses.
Through multiple device connections, 5G will expand capabilities of small business manifold. Right from managing production remotely to expediting delivery to customers, harnessing the power of IoT, 5G will result in enhanced business efficiency, thus boosting profits.
Bridge skill gaps
Every business wants to hire the best talent. However, sometimes due to geographical barriers it’s not possible. However, all this can become a thing of the past with 5G. Due to advances in video and remote technology through 5G, small businesses can improve their recruitment processand hire talent from any part of the world.
Thus, with 5G entrepreneurs can bridge the skill gaps faced in their organisation and boost productivity and efficiency in the long run.
For a business to remain competitive, it’s essential for it to innovate with its products and services. 5G will encourage innovation that will help small businesses remain relevant and compete with larger players.
For example, through 5G and virtual reality technologies, enterprises can offer dynamic video experiences to customers. Also, with 5G holographic projection, firms can offer 3D presentations in meetings and conferences without the audience requiring 3D glasses to view them. This will improve their brand appeal and give them an edge over their competitors.
Better customer experience and greater worker output
With businesses able to reach out to their customers in real time, anywhere across the globe, and offer them dynamic video and audio experiences, it will result in a better customer experience. A positive experience will make a business more appealing and improve its bottom-line revenues.
Also, with workers able to connect among themselves remotely, it will streamline communication, help solve queries and doubts in real time, thus improving their output.
Because of their spectral efficiency, 5G devices are expected to consume lesser energy and have a longer battery life. This will bring down their maintenance and utility costs, thereby helping companies to save in the long run and improve their cash flow.