Top Huawei exec Guo Ping says 5G will be 'the new electricity' when combined with AI and other technologies

Guo Ping, rotating chairman of Huawei, has painted a stunningly optimistic picture of high-speed 5G wireless technology, claiming it will be "the new electricity" when combined with other emergent technologies such as artificial intelligence. Guo, who has worked at Huawei for over thirty years since he joined the firm as a 22-year-old, was speaking at the Web Summit technology conference in Lisbon, Portugal on Monday. Huawei employs a system whereby top execs rotate in and out of the position of chairman for months-long stints, while CEO Ren Zhengfei remains in place. Addressing a sold-out crowd, Guo drew a lengthy comparison between 5G and the technological harnessing of electricity for human use. He said: "5G plus'x' will create a smart new era. This'x' can be AI, big data or VR/AR, among other technologies. As you all know, 5G deployment has just begun. AI's applications for a range of industries are still in their infancy. I believe that in the future, 5G plus'x' will create countless possibilities for entrepreneurs."