Using an item connected electronically to the internet will cost comparatively little. In fact, it could be so low that is economically viable to equip all parking spaces with a sensor that registers whether it is available, or to trace all cases of fresh fish from the fish farming facility to the freezer – because data can be used to build AI solutions that help us optimise business or predict problems.
A better future
Together, 5G, IoT and AI represent a ‘prefect technological storm’ and a potent opportunity for value creation. Low cost, and huge capacity opens itself to the connection of ‘things’ at large scale. This generates data that makes it possible to build new AI solutions that can make industry more effective, transport more environmentally friendly, and products and services will be better suited to our needs.
The challenge in managing this perfect storm is simple: we stand before an opportunity society should be positioned to derive practical use and value from, but to do so, states must form national strategies that provides more study places, prioritise research and development and drive an acknowledgement among business and the bureaucracy that they cannot afford to miss this boat.
Only then can the perfect storm become the perfect opportunity.
Sigve Brekke is President and CEO of Telenor Group.
Read about our 5G pilot in Norway
Find out how Telenor works with Artificial Intelligence
See how we’re connecting the Internet of Things
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