5G rollout to transform the Midlands’ modern economyLast updated on: September 6, 2019, Author: Editorial Team
Midlands’ selection as UK’s first 5G testing ground is great news for the region’s economy thanks to the many opportunities it will offer local businesses.
5G is all set to put the Midlands on the map, with Birmingham already being home to more software developers than anywhere else in the UK, but the region looks set to become an even more vibrant and bustling business hub, thanks to the new network opening up even more possibilities to industries based on streaming quality – from live social media streams to live gaming and important on-the-go business calls.
By the end of 2019, 5G is expected to have been rolled out in 25 areas across the UK. It is estimated that 5G technology could boost the UK economy by £15.7bn by 2025 alone. The faster communications available to businesses will be one of the major benefits, but the extra speed will see huge developments in artificial intelligence, robotics, and IoT which will revolutionise businesses working processes too.
Driverless cars will be one of the game-changers that 5G will be able to support, but also commercial drones, virtual reality and a host of other technological developments will have a huge impact on regional businesses.
With faster network speeds and greater capacity, flexible working will be a more realistic option for many Midlands’ businesses while, for employees, this means they will have more option to work flexibly from home, whilst utilising exciting products and projects the introduction of this new technology has made accessible. Businesses will be able to save on the costs of running premises, possibly leading to a hybrid eco-tech future.
Over the next few years, as 5G becomes available across the UK, we will see so much more efficient tech and accessories delivered to businesses and everyday life. For both the Midlands and the rest of the UK, this can only be a huge advantage for the economy, as businesses start to develop innovative products and services.