Technologists and many economists, such as those at the WEF, have expressed confidence that 5G mobile networks will have significant effects on the world economy. One effect will be to facilitate efficiencies in other industries. Another is to provide a pathway for the development of new unforeseen technologies. Plus, 5G networks may prove cost-effective in Internet services that will promote economic development, such as education, health-care, e-commerce, and others.
Further, many ICT industry participants see 5G as an important supporting technology for other advances in artificial intelligence, cloud services, and automation for both manufacturing and service industries. Together with new software controls for optimizing data traffic flows, 5G networks are expected to reduce the power consumed by telecom networks and to lower other network operating costs. At the same time, reliability, capacity and network flexibility or scalability are expected to improve.
The overall benefits, therefore include ICT industry efficiencies as well as broader implications for society, other industries, and economic growth.