Consider self-driving cars—just one example of 5G-enabled technology. Munu Gandhi, vice president of core infrastructure services at Aon, a global professional services firm focusing on risk, retirement and health solutions, expects autonomous vehicles to force insurance companies, automakers, taxi services, construction businesses and the trucking industry to rethink the way they operate.
“This is an existential question for a networking company,” says Gandhi. “[At Aon], we have a road map that says we will, in five years or less, not have networking hardware in our offices. None.” The opportunities and disruption will emerge from the collective impact of these multiple factors, explains Gandhi. “It’s the way all of these components intertwine that creates the exponential value that begins to enable the fourth industrial revolution—the experience economy.”With an understanding of the scope and components of 5G, businesses can begin the process of evaluating how next-generation networks could disrupt their operations or offerings.
An auto insurance company, for example, might identify a threat in one of its major touchpoints: collisions. As 5G enables autonomous vehicles,anticipate there will be fewer collisions, injuries and fatalities. That will lower risk, which will in turn lower premiums, which will lower revenue.
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