How 5G Is Assisting Corporate Leaders in Gaining Trust in Hyper-automation
Hyper-automation has become a game changer. Learn more.
With the deployment of a new generation of technologies, such as 5G, industries across the globe have shown massive advancement, including hyper-automation. Hyper-automation has become a game changer, automating and streamlining business workflow by leveraging various technologies, including artificial intelligence, robotic process automation, and machine learning. Sudip Shah, CEO of Future Market Insights, discusses how 5G is helping.
Over time, the 5G network has managed the expansion and advancement of technology, changing how industries work and learn. Future Market Insights states that hyper-automation helps organizations rapidly identify and automate as many processes as possible with the help of these advanced technologies.
The entire process of hyper-automation involves using a combination of tools such as Robotic Process Automation (RPA), Process Mining, and Artificial Intelligence (AI). Businesses of all sizes are trying to understand and leverage the opportunities that 5G presents, especially hyper-automation. Future Market Insight predicts that the 5G technology market is expected to register a staggering double-digit CAGR of 71.9% by garnering a market value of US$ 248.4 billion by the end of 2028. The growth of 5G technology is due to the accelerated developments in telecommunication technologies.
Let’s look at the implication that the 5G network, in combination with digital transformation technologies, is helping corporate leaders gain trust in hyper-automation.
5G Supporting the Automation Using Artificial Intelligence
Studies suggest that, when coupled with SDN, artificial intelligence results in the well-thought implementation of modifications leading to efficient real-time monitoring and proactive fault prevention. This is the path to hyper-automation. Major manufacturing companies are implementing hyper-automation to reduce operational expenditure and increase overall production efficiency.
Hyper-automation has proven instrumental in helping overcome laborious processes, including inventory management, purchase, and payment processing, helping streamline operations and yielding high throughputs across the supply chain. With the help of this technology, the manufacturers can track the ingredients and ensure the maintenance of quality. In addition to this, it can help the regulatory agencies trace, identify, and differentiate legitimate products from counterfeit ones.
From vehicle maintenance to logistics and overall system management, artificial intelligence can address all variables relating to the shipment of manufactured goods. Therefore, as artificial intelligence is taking center stage in boosting equity and players’ trust in hyper-automation, 5G is a must.
See more: How Recruitment Marketing Automation Can Impact the Auto Industry
5G and the Internet of Things (IoT)
5G is playing a major role in not just the evolution of communication but also the transformation of global businesses and society. On the road to adopting 5G, the business leaders will need it to transform their businesses to explore new opportunities. It can seamlessly handle IoT traffic.
The majority of revenues from deploying IoT results from better connectivity of phones, tablets, and other devices, along with the management of growing numbers of cars, meters, machinery sensors, and consumer electronics, which 5G can offer. 5G network technology, in collaboration with the internet of things, has improved the reliability and performance of IoT devices. The 5G network has tremendous capability to handle the vast number of static and mobile IoT devices having a different range of speed, data transmission, and appreciable quality of service.
Research concludes that over a third of firms believe implementing IoT in operations is vital in the United States. From an ecosystem for manufacturers, combining software, cloud computing, and analytics tools to transform raw data from various sources into useful predictions and present them in user-friendly interfaces, IoT and hyper-automation have yielded credible advancements.
Business entities are in a position to yield incremental revenue as they are actively working on hyper-automation by using 5G. For instance, Ericsson is working with more than 27 leading mobile operators worldwide on 5G networking and use cases, including 5G field trials. By leveraging hyper-automation, such players can open new monetization opportunities offered by 5G.
Furthermore, to extend their portfolios and market shares, these companies are using various organic and inorganic growth tactics, such as new product releases, partnerships and collaborations, and acquisitions. In October 2020, IBM and ClearBlade, a provider of industrial IoT platforms and edge computing tools, established a partnership to enable Edge IoT asset monitoring for near-real-time asset management.
5G and Innovation Boosting Telecommunication
As per statistics, the United States leads in 5G deployment, with as many as 270 million people having access to 5G services in the United States. Furthermore, approximately $9.2 billion in support has been awarded via the Rural Digital Opportunity Fund (RDOF) to telecommunications companies, with the rest of the amount to be awarded in a second auction for the remaining locations. The Federal Communications Commission (FCC) subsequently established a 5G Fund for Rural America that will distribute $9 billion in funding over ten years.
The rise in investments in the telecommunication sector is rapidly adding to the scope for improvement in telecommunication infrastructure and hyper-automation thereafter. The government and public organizations are investing a high amount for the betterment of infrastructure, which, in turn, is driving the 5G technology and hyper-automation market.
Looking Ahead
Given the developments mentioned above, it is evident that most tech-savvy industry leaders are capitalizing on this trend, developing multiple ways of approaching potential customers. With 5G implementation, hyper-automation has shown good results in many industries. In the years to come, hyper-automation will gain immense popularity owing to how it deals with the application and implementation of advanced technologies to automate processes and augment human activity.
Factors such as remarkable speed, huge transfer speed, low latency, huge adaptability, and high dependability of the 5G organization suit applications, like buyer VR/AR, AI, and autonomous vehicles, are propelling the growth. Furthermore, increasing digitalization coupled with growing demand for improved efficiency and reduced operational costs happens to be one of the major factors fuelling the market growth.
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