It's completely understandable why you might overlook the news that the Federal Communications Commission will conduct a pair of high-band frequency spectrum auctions later this year. But if you are among the 77 percent of Americans who own a smartphone or you wish your home broadband speeds were faster, this is an important development. The two spectrum auctions announced today by FCC Chairman Ajit Pai, planned to begin in November, will help drive innovations in the evolution of 5G. That means the potential for speeds 100 times faster than current 4G networks and far lower latency, or better network responsiveness. "5G has the potential to have an enormously positive impact on American consumers," Pai said in a statement to USA TODAY.