Convergence of 5G, AI and IoT Holds the Promise of Industry 4.0

Abstract

The Information and Communications Technology (ICT) industry across the globe is at the forefront of major transformations that are poised to impact the way industries work. In today’s ultra-competitive markets, organizations across industries rely upon next generation ICT technologies to create and deliver game changing value propositions which are market disruptive in nature. Today, the ICT industry evolution has reached a stage where majority of ICT players (i.e. communications service providers, IT service providers, software makers and OEMs) are in a race to ride the much awaited 5G, AI and IoT waves to gain from the first mover advantage and find avenues for generating new revenue streams while obtaining thought leadership in this new marketplace. Among these players, especially, the communications service providers are betting big on these 3 emerging technologies as their traditional revenue streams from voice and data have shrunk in the recent past due to intense competition, commoditization of services, increasing spectrum costs and price pressures (decreasing ARPU). A wide range of IoT applications will be empowered by 5G backbone augmented using AI driven algorithms which can deliver the promise of a smart, ultra-fast, automated and data intelligence driven use cases across industries and ultimately realize the vision of Industry 4.0.

Keywords: ICT, 5G, IoT, AI, Industry 4.0

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