5G reliability may be more important to consumers than speed. Digital banking will make many of today’s financial-services companies irrelevant, even bankrupt. And the number of predicted IoT devices has dropped like a stone.
These are findings from some of the latest IT research. Here’s your tech provider’s update.
5G: reliability vs. speed
When it comes to 5G wireless networks, reliability may be more important to users than speed, finds a new survey conducted by consulting firm PwC.
In its survey of 1,000 consumers, PwC found that nearly half (46%) are familiar with 5G. But many are already quite satisfied with their current internet services. That leads PwC to conclude that selling 5G could be a challenge.
There is one area of consumer discontent, however, and that’s network reliability. About 40% of those surveyed complained of this. And about a third said high reliability is a network “must have,” as this chart (courtesy of PwC) shows:
There may be time to adjust. Only one in four (26%) of consumers surveyed said they’d buy 5G gear as soon as it’s available. They remaining three-quarters (74%) said they’d wait until they’re eligible for an upgrade.
The financial-services industry’s shift to digital services could put the very survival of traditional banks and capital markets companies at risk.
In fact, a Gartner industry analyst now predicts that fully 80% of all “heritage” financial-services firms will go out of business, become commodities or exist only in the technical sense of the word by 2030.
The market analyst, David Furlonger, made his prediction at a Gartner event held this week in Australia. He maintains that while traditional financial-services companies are paying lip service to digital transformation, they're not actually doing much.
“Digital transformation is largely a myth,” Furlonger said, “as institutional mindsets, processes and structures stand firm.”
Established financial services providers will have to move faster, Furlonger adds. He sees 2 main ways ahead for them: either building digital platforms or finding niche products and services to sell on the digital platforms of others.
IoT: shrinking numbers?
It’s always been safe to predict that many predictions are wrong. Now one Internet of Things company has uncovered a disturbing trend: predictions of the number of IoT devices have been steadily dropping.
The company, PsiKick, has some skin in the game. It’s a venture-backed startup that has developed a wireless, battery-less, self-powered IoT sensing system.
PsiKick has observed that the predicted number of IoT devices has dropped from 1 trillion by 2015 (a prediction made by IBM) to just 25 billion devices by 2025 (predicted by GSMA). Here's a graphic presentation of how the predictions have fallen over time, courtesy of PsiKick:
That’s interesting. But the big question is why?
PsiKick’s guess is that it’s due to the industry’s continued reliance on powering these devices by batteries. Well, what would you expect from a company that makes “battery-less” devices?
Still, PsiKick has some numbers to back up its guess. It says about 1 in 3 IoT devices need to have their batteries changed each year. So if a hypothetical company had 10,000 sensors, then it would need to make about 3,333 battery replacements each year.
Does that really explain the drop in forecast devices? Maybe. But either way, changing thousands of batteries? That's no small task.