The past year has redefined the future of our economy. The impact of covid-19 is forcing a broad range of industries to rethink strategy for the post-pandemic world. How can the economy be made more resilient, and how will jobs of the future be different?

Enter 5G, the fifth generation of cellular networks. This transformative technology is poised to play a pivotal role in redefining the global economy. As connectivity is now more important than ever, 5G’s greater reliability, capacity and speed will help revitalize businesses disrupted by the pandemic, and can also help energize entirely new sectors to create jobs and opportunities we can barely imagine today.

The past year has redefined the future of our economy. The impact of covid-19 is forcing a broad range of industries to rethink strategy for the post-pandemic world. How can the economy be made more resilient, and how will jobs of the future be different?

Enter 5G, the fifth generation of cellular networks. This transformative technology is poised to play a pivotal role in redefining the global economy. As connectivity is now more important than ever, 5G’s greater reliability, capacity and speed will help revitalize businesses disrupted by the pandemic, and can also help energize entirely new sectors to create jobs and opportunities we can barely imagine today.

“5G is here now. But what’s more exciting is what comes next,” said John Smee, vice president of engineering at Qualcomm Technologies, a U.S. company that has led the development, launch and expansion of 5G. “5G is designed to deliver higher capacity, lower latency and more mission-critical reliability and availability. These improvements are going to help bring in a wide range of new applications.”

In the face of economic uncertainty, the 5G platform offers unprecedented potential for new and existing businesses to drive substantial and sustainable economic growth. As policymakers and constituents learn more about 5G’s transformational power, they’ll see how it can help improve efficiency across multiple sectors and support new business models, which could strengthen the U.S. position as a global economic leader.

“5G is here now. But what’s more exciting is what comes next,” said John Smee, vice president of engineering at Qualcomm Technologies, a U.S. company that has led the development, launch and expansion of 5G. “5G is designed to deliver higher capacity, lower latency and more mission-critical reliability and availability. These improvements are going to help bring in a wide range of new applications.”

In the face of economic uncertainty, the 5G platform offers unprecedented potential for new and existing businesses to drive substantial and sustainable economic growth. As policymakers and constituents learn more about 5G’s transformational power, they’ll see how it can help improve efficiency across multiple sectors and support new business models, which could strengthen the U.S. position as a global economic leader.

As we’ve seen so often before, new technology like 5G can create opportunities and career paths. In fact, the deployment of 5G has the potential to drive a value chain that may support up to 22.8 million new jobs worldwide by 2035.¹

Companies across many sectors will need to hire people or retrain existing employees to take advantage of the 5G revolution. New positions could include construction and maintenance, researchers, software developers, AI and machine learning experts and project managers. “5G is going to enable a lot of data. So we’re going to need digital skills and digital literacy,” Campbell said.

5G connectivity also could support economic opportunity for populations that previously may have lacked fast internet connections. Despite the widespread availability of broadband in recent years, the prohibitive expense of the last mile of fiber optic has left many homes and small businesses in remote areas without high-speed internet access. 5G can bridge that gap by offering a fast and reliable connection that allows more people to participate in the digital gig economy or learn new skills they can leverage for new career paths.

As we’ve seen so often before, new technology like 5G can create opportunities and career paths. In fact, the deployment of 5G has the potential to drive a value chain that may support up to 22.8 million new jobs worldwide by 2035.¹

Companies across many sectors will need to hire people or retrain existing employees to take advantage of the 5G revolution. New positions could include construction and maintenance, researchers, software developers, AI and machine learning experts and project managers. “5G is going to enable a lot of data. So we’re going to need digital skills and digital literacy,” Campbell said.

5G connectivity also could support economic opportunity for populations that previously may have lacked fast internet connections. Despite the widespread availability of broadband in recent years, the prohibitive expense of the last mile of fiber optic has left many homes and small businesses in remote areas without high-speed internet access. 5G can bridge that gap by offering a fast and reliable connection that allows more people to participate in the digital gig economy or learn new skills they can leverage for new career paths.

5G also could give birth to novel business models. For example, ride sharing did not exist before the advent of 4G, but companies quickly tapped into that foundational technology to create an entirely new industry. New platforms trigger innovations that often become an essential part of our lives, and 5G’s powerful attributes are expected to make it even more of a catalyst to stimulate such growth.

5G also could give birth to novel business models. For example, ride sharing did not exist before the advent of 4G, but companies quickly tapped into that foundational technology to create an entirely new industry. New platforms trigger innovations that often become an essential part of our lives, and 5G’s powerful attributes are expected to make it even more of a catalyst to stimulate such growth.

Today, we find ourselves at a pivotal moment for both the economy and society. “5G stands to be a very big enabler for commerce, industry, healthcare and education—really, every facet of daily life,” said Geoff Blaber, CEO for CCS Insight, an industry analyst firm focused on mobile communications.

“5G needs government support early in the investment phase, because without their support, it’s simply not going to move at the speed that is necessary to realize a lot of the use cases and economic value that is there,” Blaber said.

Today, we find ourselves at a pivotal moment for both the economy and society. “5G stands to be a very big enabler for commerce, industry, healthcare and education—really, every facet of daily life,” said Geoff Blaber, CEO for CCS Insight, an industry analyst firm focused on mobile communications.

“5G needs government support early in the investment phase, because without their support, it’s simply not going to move at the speed that is necessary to realize a lot of the use cases and economic value that is there,” Blaber said.

It is critical that government leaders understand these technologies to advance a policy framework in which 5G can support job creation and improved economic opportunities. This takes on added importance as we work to rebuild the economy in the wake of a global pandemic. Qualcomm, a leading wireless technology innovator with a foundational role in 5G’s development, is playing its part and can offer a valuable industry perspective to policymakers.

In addition to offering support in understanding 5G technology, Qualcomm can help policymakers ensure that their communities keep pace with the rate of innovation expected this decade. The modernization of policy—which encompasses issues of infrastructure, spectrum licensing and training and development—also plays a key role in paving the way for economic benefits. An industry leader such as Qualcomm offers the expertise needed to inform this policy.

It is this new framework, and the champions among our leaders, that will allow the 5G ecosystem and economy to flourish.

It is critical that government leaders understand these technologies to advance a policy framework in which 5G can support job creation and improved economic opportunities. This takes on added importance as we work to rebuild the economy in the wake of a global pandemic. Qualcomm, a leading wireless technology innovator with a foundational role in 5G’s development, is playing its part and can offer a valuable industry perspective to policymakers.

In addition to offering support in understanding 5G technology, Qualcomm can help policymakers ensure that their communities keep pace with the rate of innovation expected this decade. The modernization of policy—which encompasses issues of infrastructure, spectrum licensing and training and development—also plays a key role in paving the way for economic benefits. An industry leader such as Qualcomm offers the expertise needed to inform this policy.

It is this new framework, and the champions among our leaders, that will allow the 5G ecosystem and economy to flourish.