Industry insiders say companies don’t know how to prepare for 5G and are ‘constantly’ asking questions about what it will mean for their business

Companies are confused about what 5G means to them, investment bankers told Business Insider.

5G is the next generation of wireless technology. It's expected to deliver faster speed than the current 4G LTE standard andThe companies that make parts and devices powered by the technology will feel the greatest impact of 5G at first. These companies, like Qualcomm and Samsung, are already building 5G chips for modems and 5G compatible cell phones.

The four main wireless providers make it seem like 5G is available today. In fact, 5G is being deployed in phases for internet service providers, smart phone makers, and IOT ecosystem players, like manufacturers of self-driving cars or smart washing machines, the banker said.

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