Can 5G really transform businesses?

While consumers across ASEAN are excited about 5G's promise of faster home broadband speeds and mobile internet connections, it is the technology's low network latency and power consumption that offers a variety of opportunities for businesses. Globe Telecom in the Philippines rolled out Southeast Asia's first 5G broadband service in select areas of the country in June, partnering with telecommunications giant Huawei to give the world's largest community of social media users a home broadband service that is now the fastest in ASEAN. About 20 times faster than 4G, everything from instant high-definition movie streaming to cloud gaming will be less than seconds away once 5G is commercially available across the rest of the region in the next few years. Businesses, meanwhile, can unlock increased value from Internet of Things (IoT) applications, artificial intelligence (AI), advanced robotics and a multitude of other uses. A recent report from consultancy firm A.T. Kearney predicted that this increased value will be worth around US$147 billion for ASEAN businesses by 2025 – with US$81 billion of that additional revenue gained through the growing use of AI in industries such as trade, transport and financial services.