Whisper it quietly, but 5G technology is set to revolutionise the ease with which customers can communicate across mobile networks.
More specifically, it’s thought that 5G will offer speeds as fast as 10Gb/s for mobile customers, meaning that they’d have the ability to download a full HD movie in under 10 seconds on their smartphone or tablet. 5G technology also offers lower latency, which will reduce the time taken to transfer and access data online.
Whilst 5G is thought to be a consumer-oriented technology, however, it will also deliver huge advantages to business-owners. But which types of business and market will benefit the most? Let’s find out!
1.Startups and Small Businesses
Let’s start with the basics, as 5G will certainly provide a much-needed shot in the arm for startup ventures and small businesses nationwide.
More specifically, 5G technology will improve the experience of remote working and collaboration, which is central to independent business models that want to minimise their overheads and investment in commercial leases.
This should also translate into higher rates of efficiency and business agility, which can afford startups a competitive advantage over potentially more established firms.
5G will also empower network-related tasks, such as online sales or the distribution of large files amongst partners and stakeholders. It will also make it easier to share files on mobile devices, which is significant for smaller firms that deploy the principles of BYOD.
2.The Forex Trading Market
Next up is forex trading, which is now primarily conducted online and through virtual brokerage platforms such as ATFX.
One of the main advantages of online forex trading is that it connects investors to the market in real-time, whilst also enabling them to complete a high volume of orders simultaneously.
This has laid the foundations for so-called ‘high-frequency trading’ throughout the global forex market, and there’s no doubt that 5G will help investors to build on this significantly.
Remember, 5G technology will improve connection speeds and lower latency, enabling traders to execute a larger amount of orders within a predetermined amount of time.
3.Companies that Deal with Highly Sensitive Data
Data is central to most business models in the digital age, as it’s now possible to collate huge swathes of customer data and monetise this over time. This can also help firms to tailor the products and services that they market to their customers, which is a huge boon in 2019.
There are significant security concerns surrounding the collation and storage of sensitive data, however, and 5G can help to assuage some of these.
Fortunately, most 5G networks are being designed with security at their very core, with a zero-trust model the safest way to mitigate contemporary cybersecurity risks.
This requires every unique access request to be received, vetted and verified, making sure that sensitive documents are only shared securely with those who have the requisite permission.