How 5G and IoT would create global changes – Deltec Bank perspective

September 24 09:37 2019
How 5G and IoT would create global changes - Deltec Bank perspective

Deltec Bank
Headquartered in The Bahamas, Deltec is an independent financial services group that delivers bespoke solutions to meet clients’ unique needs. The Deltec group of companies includes Deltec Bank & Trust Limited, Deltec Fund Services Limited, and Deltec Investment Advisers Limited, Deltec Securities Ltd. and Long Cay Captive Management.

After many years of anticipation, 5G is about to land. The refined and improved fifth-generation wireless network is becoming a reality and could change our lives dramatically more than any other innovation. This uber enhanced technology will help us to fully connect and realize the potential of a more integrated and connected digital world.

The high speeds and low latency will mean we will be able to connect more efficiently, quickly and speed up many of the processes in our daily lives. Millions of devices can be supported by the new infrastructure of smaller towers, which will be laid out close together in our towns, cities and other areas.

The speeds that will be offered will be faster than our current fourth generation, resulting in latency is significantly reduced. The 5G antennas are more planet-friendly as they consume far less power than previous structures and add to the efficiency of connecting battery-powered devices such as smartphones and tablets which run IoT protocols.

Let’s take a look below at how the more improved fifth generation will begin to create global changes in our cities and towns.

Smart cities

According to the National League of Cities, two-thirds of U.S. municipalities have invested in smart city technology. For example, Pittsburgh is replacing 36,000 streetlights with LEDs that contain sensors to monitor air quality. South Bend, while Indiana has installed sensors inside manhole covers that redirect the water flow when sewer levels get too high.

Cities who are upgrading to 5G will be able to handle data from millions of IoT devices and will also be able to install much lower power sensors that have much more longevity than previously, and are able to be super long-lasting before needing replacing.

Using 5G technology will expand the ability of major cities and towns enabling more efficient flow of traffic, dramatically reducing congestion. Other benefits will be better air quality, lower power use and overall a safer environment for the public. A 2017 report by Accenture, predicts that using 5G networks to manage traffic and power could save cities $160 billion.

“A 2017 report by Accenture, predicts that using 5G networks to manage traffic and power could save cities $160 billion.”

Driverless cars

According to the National Highway Traffic Administration, nearly 95 percent of traffic accidents are caused by human error. Removing humans from behind the wheel could save up to 1.25 million lives every year.

But for driverless cars to become fully autonomous, they’ll need to communicate with the cars around them to avoid accidents and minimize congestion.

These uber advanced vehicles will be required to talk to the sensors which will be embedded in road signs, and traffic lights, to enable them to safely navigate. The low latencies of 5G will mean the quick responses needed will be more available.

Kevin Curran, a professor at Ulster University in Northern Ireland, and Group Leader for the Ambient Intelligence Research Group says:

“Only fast networks, such as 5G, can support millisecond-level latencies, “We’re not far from driverless vehicles sharing our roads and one day dominating them, but first we need to invest in the infrastructure.”

Once this driverless infrastructure is in place, it’s likely that the streets may become less crowded and have benefits regarding pollution, resulting in cleaner air. The result of vehicles that are completely autonomous could also mean that fewer people will own cars and sharing rides may become more common.

Disclaimer:  The author of this text, Robin Trehan, has an Undergraduate degree in economics, Masters in international business and finance and MBA in electronic business. Trehan is Senior VP at Deltec International www.deltecbank.com. The views, thoughts, and opinions expressed in this text are solely the views of the author, and not necessarily reflecting the views of Deltec International Group, its subsidiaries and/or employees.

About Deltec Bank

Headquartered in The Bahamas, Deltec is an independent financial services group that delivers bespoke solutions to meet clients’ unique needs. The Deltec group of companies includes Deltec Bank & Trust Limited, Deltec Fund Services Limited, and Deltec Investment Advisers Limited, Deltec Securities Ltd. and Long Cay Captive Management.

Media Contact
Company Name: Deltec International Group
Contact Person: Media Manager
Email: Send Email
Phone: 242 302 4100
Country: Bahamas
Website: https://www.deltecbank.com/

  Categories: