5G‐Driven New Business Development

Pervasive, secure, and ultra‐reliable high‐bandwidth 5G connectivity provides the essential foundation for economic growth via digital transformation and new innovations. However, this requires a commercialization process via idea generation and business opportunity recognition and ends with the maintenance of a marketed solution to capture value for the customers. 5G architecture and the key capabilities promote collaboration across multiple domains in a secure and controlled way. In addition, it reshapes the digital business ecosystem with new value chains linking stakeholders from the telecommunications world and the vertical industries, driving innovation and commercialization based on the defined standards. This blending of technologies creates a convergence of the physical and digital worlds, enabling an era of massive industry improvements and positive impacts for industries, which makes commercialization at the ecosystem level as one cornerstone of digital transformation.