WORLD INTERNET CONFERENCE, WUZHEN, CHINA: Steve Mollenkopf, CEO of Qualcomm (pictured), explained he sees 5G as much more than just another faster network technology, predicting it will accelerate the growth of the digital world and have a far-reaching impact on all industries.
He referred to 5G as a “connectivity fabric for innovation” which will bring the benefits of the internet to almost every industry, creating a vast opportunity for economic growth: “The opportunities presented by mobile are boundless; they will drive the next phase of growth for the internet and be a platform for innovation.”
Mollenkopf said mobile technology had helped bring the internet to the unconnected, education to the unschooled and jobs to the unemployed, adding “this will accelerate as mobile innovation advances secure connectivity beyond the smartphone with 5G as the connectivity fabric”.
The CEO believes the 5G ecosystem will be significantly bigger than 3G or 4G, but noted security and trust will be crucial moving into the 5G era.
A study commissioned by Qualcomm forecast services enabled by 5G will create up to $12.3 trillion of economic value by 2035 from industries including automotive, manufacturing, healthcare and education, among others.
Mollenkopf noted China leads the world in 4G connections and seven of the top ten smartphone vendors today are Chinese, up from just one in 2010.Subscribe to our daily newsletter Back