5G is expected to have a major impact on the way we live, where we live and how we operate our businesses in real estate. With increased speeds, lower latency, and broader access, 5G will change the connectivity landscape. 5G will lead to the development of innovative technology that will power our future and increase our ability to effectively interact as a society.
The Evolution of 5G
The next generation of wireless internet, 5G, is in full swing. Verizon, AT&T and T-Mobile are pushing 5G as a huge opportunity to expand connectivity and applications for our lives and businesses.
Internet speeds will increase by two hundred times the previous generation (4G) and latency (the time it takes for data to pass from one point to another) will significantly decrease. This will position products and services in spaces like telehealth, autonomous vehicles, the metaverse and general use of data in artificial intelligence to provide increased value to our lives.
As we recognize the capabilities of 5G, it’s becoming more evident that this new technology will be a game changer for many industries. Think about the experience of rideshare businesses such as Lyft and Uber. Without 4G, those rideshare apps would have been unusable, and those companies may not have the adoption we see today. Just like we saw with 4G, there will be new applications and experiences with 5G as the foundation. Some that we may not have thought of yet, and certainly ones that will impact real estate.