Wireless technology is powering unprecedented innovation in nearly every sector of the global economy. From telemedicine to fitness tracking, increasing speeds and increasing connectivity are fueling new technologies every day. And that trend is only going to accelerate with the rise of the next generation of networks – 5G.
A recent study estimates that 5G has the potential to add $500 billion to the nation’s gross domestic product (GDP) and create 3 million new jobs by 2025. As 5G technology continues to mature, the Asian American community stands to benefit from new and exciting improvements. That includes expanded telehealth offerings to an Internet of Things (IoT) connected world of smart appliances able to revolutionize so many aspects of our lives.
Importantly, there is immense potential for 5G technology to impact the International Leadership Foundation (ILF) and the leaders of the communities we serve. For example, connectivity is crucial for our young leaders studying in the classroom. Emerging technologies being built for advanced 5G networks have the potential to introduce new services that engage students in a whole new way. This includes everything from augmented and virtual reality (AR/VR) tools for immersive learning to online platforms that can help expand access to affordable, higher education opportunities.
Businesses and entrepreneurs in our communities also stand to benefit from the growth and availability of 5G services. Today, Asian Americans own nearly 2 million businesses in the United States, and those businesses employ nearly 4 million people. With 95% of our English-speaking Asian American and Pacific Islander communities online, we understand the value of technology. Our communities are at the forefront of technology adoption and business innovation.
The ILF is already leading way in innovation, fostering the young leaders of our community by providing resources and access to unparalleled opportunities. If 5G can spur advances that help them start new businesses and attain new educational opportunities, imagine the potential it has to unleash a whole new wave innovation across the country.
Empowering our communities is central to the mission of ILF. The appearance and expansion of connectivity in the form of 5G could not come at a better time. The effects of 5G will capitalize on our already highly connected community and further propel us to the forefront of business and innovation.