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5g

How 5G Will Inspire a Technological Revolution

In our last blog 5G: Exploring the Fifth Generation of Cellular Mobile Communications, we explored an overview of what 5G is and when it will be rolling out in your city.

Now, it is time for the fun stuff! 5G will change the way we interact with technology on a daily basis. Here’s a rundown of some of the revelatory applications enabled by 5G which will shape the future of our world:

THE INTERNET OF THINGS

Via Toxsl Technologies

Via Toxsl Technologies

In 2016, we wrote about how the Internet of Things will eventually enable smart-worlds. 5G is necessary in order to facilitate those changes. Most of the biggest innovations enabled by 5G are related to the Internet of Things. The world currently has sensors that are embedded in devices and objects and can communicate with each other, but they require a great deal of resources and quickly deplete LTE’s data capacity. 5G will give these sensors the ability to transmit data at speeds necessary to operate more efficiently. It will save lives by enabling smart bridges to communicate with cities and municipalities about when they require maintenance, among many other potential applications.

AUTONOMOUS VEHICLES

Via Seeking Alpha

Via Seeking Alpha

The world is at a cross-roads when it comes to autonomous vehicles. The demand is here, but in order to justify legislation, autonomous cars must be ostensibly fool-proof. 5G will enable the speed necessary for autonomous vehicles to communicate with other vehicles on the road, saving lives in the process. According to Joy Laskar, CTO of Maja Systems, self-driving cars of the future will generate an estimated two petabits of data—that’s two-million gigabits! When dealing with automotive vehicles, people’s lives will be dependent on the transmission of data. Put it simply, until 5G receives a mass roll-out, it’s unlikely that autonomous cars will become the primary vehicles on the road.

HEALTHCARE

Via Fortinet

Via Fortinet

Imagine remote diagnoses that enable people worldwide to have access to expert doctors. Imagine robot-assisted surgery that is more precise and cost-effective. Imagine 5G-powered Augmented Reality applications allowing physical therapists and patients to communicate remotely.

These are just a few of the innovations that 5G will enable within the healthcare space. 5G will eventually enable much more precise and efficient hospitals. It will give patients more personal care. Consulting firm IHS Markit reported that “5G-enabled” output between 2020 and 2035 will total at $12.3 trillion. Of that amount, roughly $1.1 trillion will encompass sales enablement in healthcare.

VIRTUAL REALITY AND AUGMENTED REALITY

Via Upload VR

Via Upload VR

Experts within the VR and AR industry believe 5G will unlock the full potential of VR and AR technology. 5G will enable VR devices to offload intensive computational work to the cloud, making VR devices smaller and increasing the fidelity of VR experiences. AR displays in autonomous cars will likely become the norm. 5G will enable VR live streaming of sporting events, creating a revolutionarily immersive viewing experience. As with autonomous cars, we will not see the full potential of VR until 5G receives mass adoption.

TAKEAWAYS

5G will permanently change the global economy. 5G will generate new revenue, facilitate new growth, and accelerate innovations beyond our wildest dreams. Dr. David Teece wrote that 5G will put mobile technology at the center of a global economy characterized by the Internet of Things turning into a true general-purpose technology. While each evolution of the cellular generation has brought amazing advancements to society, 5G promises to bring the most radical breakthroughs of any of previous generations. Ready or not, 5G is about to bring interconnectivity to a whole new level.

Why Venture Firms Are Investing More and More in Educational Technology

What if we could go back in time to the 80s and invest in the PC tech boom on the ground floor? Unfortunately we can’t, but one present-day equivalent is educational technology: a burgeoning, constantly evolving business–and it’s just getting started. Each year, technology gets more and more entrenched in the educational experience, whether it’s the rising prominence of mobile devices, or the use of iPads in schools everywhere from Beverly Hills to India. Within a decade, the amount of money venture firms invested into ed-tech startups has quadrupled from $600 million annually in 2012, to an estimate of over $1 billion in 2015. There is not only a need for technology, but at all 4,600 colleges in the US, there are million-dollar budgets dedicated to educational technology. By getting into the game today, one can entrench herself in the educational process and make major profit by becoming a part of a business which will not only sustain, but evolve with technology.

The number one educational technology tool utilized by every college is a Learning Management System, or LMS. The LMS functions as a centralized web system for all academics, supporting syllabus creation, online test-taking, announcements, assignments, and integrated with instructional technology tools.

While Blackboardmaintains the majority of the LMS business, more and more leading universities are seeking alternatives, and the competition is scant–the only major LMS solutions on the market are Blackboard, Canvas by Infrastructure, and Desire2Learn. LMS solutions can charge in a variety of ways. Some charge based on how many users, some based on how many courses are necessary, and others charge an annual site license fee. LMS solutions, like IOS, are constantly evolving with new versions. The money continuously roles in each year, making LMS a crucial money-maker in the educational technology industry.

Mobile seems to be the keyword when it comes to education in 2014. Whereas previously smartphones were the enemy of the instructor, an all-to-easily accessible distraction, schools across the world are now using mobile devices to enhance the state of learning and create a more interactive classroom. For example, Student Response systems have become prevalent in higher education, allowing instructors to interact with students to collect and aggregate data on the fly. Student Response systems generally use clickers, but recently, companies such as Poll Everywhere have developed apps which allow students to use their mobile phones as clickers, making it easier to collaborate. There is a major demand for creating mobile and tablet apps which allow instructors to interact with students. The key to developing educational apps is not to create for the individual, but rather to create a platform for collaboration. The best teachers involve the students. We retain more wisdom out of experience than we do out of textbooks. If one creates a useful, convenient platform for mobile collaboration, money will be made.

The beauty of educational technology applications is that they are easy to market since people love to give them publicity. If a company creates a useful, innovative tool, the blogosphere takes notice, and because colleges are constantly competing, the effective technologies spread like wildfire–meaning major growth and profit for a new and innovative product. Sites like EdProspect.com sell tech information to vendors and schools looking to sell and buy cutting edge educational technologies. Technologies designed for schools can also be rebranded for businesses and even governments. When an educational app serves multiple purposes, the customer base grows, as does the profit.

Technology and higher education are staples of American culture and have evolved rapidly in the past 10 years without showing signs of stopping. Get into the educational technology game now, execute effectively, and watch as you yield major profit and visibility for your company.

At Mystic Media, we’re always looking for the next big vertical. When called upon, our mobile development, marketing, and web design services will give your business the tools to succeed. With our expertise, we can make your application idea, education or otherwise, a reality living up to its fullest potential.

To learn more about our services contact us today at www.mysticmediasoft.com or by phone at 801.994.6815.