The rollout of 5G will enable a rapid rise of IoT and AI, changing everything — again — for CIOs.
CIOs and CTOs have managed rapid digital transformation, yet even bigger change is coming. Soon. The impending rollout of 5G networks will enable a more rapid scaling of Internet of Things (IoT) and artificial intelligence (AI) platforms. This signals a major turning point in digital transformation in the enterprise, as technology leaders will be challenged to leverage these changes to boost the customer experience while protecting endpoints and data.
Enterprise CIOs and CTOs gathered recently for a roundtable, sponsored by T-Mobile for Business at the New York Stock Exchange, to discuss this significant wave of change about to crash ashore and wash over their global IT organizations.
All acknowledged that within a few years, AI platforms will routinely churn through unfathomable volumes of data generated by billions of IoT devices connected over 5G networks. As a result, organizations will have unprecedented opportunities to deliver entirely new customer experiences. Yet each enterprise will be similarly challenged to leverage the 'big three' (AI, IoT and 5G) to improve operations and processes and develop new products and services — all in the name of competitive advantage.
Who's driving the change?
IoT growth projections are roughly 25 percent per year for the next several years, reaching a half trillion dollars globally within three years. Deloitte predicts the number of mobile providers launching 5G networks globally will double from 25 to 50 by the end of next year. Accenture research on the impact of AI in 12 industrialized countries found that AI could double annual economic growth rates by 2035 through changing the very nature of work.
Make no mistake: The building wave of 5G-IoT-AI is as inevitable as it is enormous. The potential for disruption and change was not lost on the panel participants.
To Eash Sundaram, executive vice president and digital and technology officer at JetBlue Airways Corp., there is little question that consumers will drive the transformation triggered by these emerging technologies. "Consider what happened with the iPhone. Consumers drove the smart phone revolution and the enterprise adoption naturally followed," Sundaram said.
The CIO of a major enterprise communications company agreed, saying, "Consumers will pull 5G into the enterprise, without doubt."