What is 5G Technology? How can it help Businesses in Pakistan after Covid-19?

The traditional businesses after the current pandemic need a real restructuring to get back from effects. All countries are trying to use available funds to give space to their financial structure and minimize loss. Technology like the Internet and 5G speed can only work for people if they use it for real benefit in these devasting times. The demand of basic utility goods rose because of panic buying and the rest of the goods facing decreased by more than 60%. This makes a new pattern to study for academics and entrepreneurs for startups.

All work environments changed to remote work stations just to minimize effects and went online using smart phones & internet. The 5G technology has been launched and, in this space, needs to be implemented effectively. We in Pakistan are using 4G LTE services and trying to cope with this situation.

The conventional business models have to reshape to remain in the market. As mentioned above, the demand of basic utility will remain constant but other firms have to reach customers at their home without visiting physically. It can only be possible when we will use digital technology and internet service efficiently. Experts believe that digital technology and organized accounting system support customer relationship. When you have better Customer Relationship, it ultimately results in longer customer retention, cost savings and increased revenue. This system provides you a foundation of customers relationship and develop customers loyalty. The goal of digital business is to focus on interactive elements, encouraging consumers to participate in the business activities.

What is 5G Technology?

The 5G services will reduce latency in the internet and use URLLC (Ultra-Reliable Low Latency Communication) system. The latency means when a device connected with a wireless network shares with other devices in milliseconds. 3G sends in 100 milliseconds, 4G in 30 milliseconds and 5G will share in only 1 millisecond using URRLC. Whole dynamics will change and business models need to be re-establish accordingly.

The downloading speed will increase more than 100 times. The real impact of 5G will take few years to show as all devices and infrastructure need to improve from 4G.

How 5G will Benefit us?

The Pakistan business community is not using 4G in the true sense, how will they respond to 5G. This Covid-19 has given time to think about it and establish models likewise. Most of the small businesses/shops are using manual records and conventional models to sell & manufacture products. The robots are coming in manufacturing, drones are coming to deliver online sold products at your doorsteps, driver-less vehicles are starting to run on the roads with high bandwidth network devices replacing huge towers, one machine starting to communicate with others using artificial intelligence and much more is coming unthinkable in this context.

AI-Enabled Transporation

The main Benefit 5G Technology will provide, is Artificial Intelligent vehicles. The transportation system will drastically change to a smart system. Suppose an environment where vehicles are connected with the internet and with each other. A vehicle coming from the front already knows your speed and direction or destination. Vehicles will not collide with each other because they know speed and direction.

The driverless cars will take you during the ride-hailing service you are applying through the app. The bullet trains will also be so efficient they will provide internet to all riders connected with each other.

AI-Enabled Apartments

Imagine an apartment room arranged with devices connected to the internet. Air Cooler will maintain a favourable temperature in your room before arrival from whole long day office working. The Security system will open your door automatically and will scan you informing any unusual thing in the luggage. All your room services will be ready to service you knowing your mood and requirement.

AI-Enabled Health System

So, we have to start the internet thinking of it as the Internet of Things (IOT) and start our products to be sold online. We have to think fast use computing and mobile technology to assist our business. We have to think, only sitting at home after Covid-19 cannot give us food using social media as entertainment. This is a race with time and only those will win or compete who use 5G being first movers, capture market in advantage.

Team

StorkAcc
Quality Virtual Accounting Solutions

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