During the next few years, the promise of 5G and its impact on subscribers will be revealed in significant ways. With lower latency and speeds expected to grow to at least 10 times that of 4G LTE, 5G is being hailed as the driver of the next industrial revolution that will drive an estimated $2.2 trillion in economic value by 2034.1
But according to market research firm NPD, nearly a third of U.S. households (about 100 million people) still lack a basic broadband Internet connection of at least 25 Mbps.2 This digital divide is, of course, not a new problem, but there is general trepidation that 5G will be just another technology set to divide an already digitally divided population.
For many CCA carriers, the launch of a 5G network is likely several years away. Yet some of the largest competing mobile providers already are developing and promoting 5G network capabilities to their subscribers. After all, this is what consumers want: access to digital content quickly, at anytime and anywhere. The 5G-era of customer experience will see a massive transformation with the introduction of chatbots, AI, and other technologies that will digitally connect consumers to brands in real time, making fast responses and even faster service the norm. If carriers do not take a customer-centric approach to their business and technology planning now, they too may get left behind. So how can CCA carriers remain competitive and bridge the digital divide between themselves and their customers?
With a new revolutionary technology like 5G on the horizon, there has never been a more crucial time for carriers to focus on three key areas: virtualize legacy infrastructure and reallocate resources to evolve technologically; launch new services that build deeper engagement with subscribers; and create partnerships that enhance the subscriber experience and maximize revenue potential. With the right approach, carriers have an opportunity to involve subscribers in every step on the road to 5G, while building loyalty along the way.
Read the full article in the CCA Voice
1 GSMA: The 5G Guide
2 NPD: Connected Intelligence