In a keynote address at the 2019 Consumer Electronics Show (CES), Verizon Chief Executive Officer Hans Vestberg discussed upcoming breakthroughs in connectivity, shaping the direction of change and how 5G will impact how we live, work and play.
“5G is way more than just a step up from current wireless technology,” said Vestberg, who succeeded Lowell McAdam as Verizon’s CEO in August. “It’s a quantum leap that will bring an era of radically new possibilities across all areas of technology.”
During the keynote, Vestberg introduced the eight “currencies” of 5G that will unleash highly connective technologies and blend physical and digital realms like never before – from AR and VR to IoT, AI, autonomous vehicles, advanced robotics, 3D printing, wearable tech and more.
The eight currencies are:
- Speed and Throughput: Peak data rates of 10 gigabits per second and mobile data volumes of 10 terabits per second per square kilometer
- Mobility, Connected Devices and Internet of Things: Mobile devices traveling at up to 500 kilometers per hour can potentially stay connected on a 5G network, and up to one million devices can be supported by 5G in a square kilometer
- Energy Efficiency and Service Deployment: 5G network equipment and devices will consume only 10% of the energy consumed by 4G network equipment and devices, and specialized services that will operate on the 5G network will take much less time to implement
- Latency and Reliability: Five millisecond end-to-end travel time of data from the mobile device to the edge of the 5G network – faster than the blink of an eye, and 5G will be more than 99.999% reliable
These performance metrics are based on 3GPP industry specifications and represent the potential of 5G technology.”
Vestberg added that Verizon’s ability to deliver all eight currencies of 5G is dependent on its fiber, spectrum, network density, and real estate – and that companies lacking these assets are underestimating what it will take to provide true 5G service. “Anyone who thinks 5G is just for the mobile handset is thinking too small.”
Long an advocate for technology’s potential in advancing environmental sustainability, Vestberg hailed the potential of 4th Industrial Revolution (4IR) innovations to “improve energy efficiency” and “cut carbon emissions and resource usage across production cycles, from manufacturing to shipment to packaging to reuse.”
He also called for “a conversation that will involve not only Verizon and other leading tech companies, but people from a wide range of sectors and backgrounds” to determine how to “use these unprecedented technologies so that we may harness their power for the greater good to benefit society.”
As part of the keynote presentation, Vestberg introduced an array of partners who discussed how their organizations were using 5G technologies including:
- New York Times Company CEO Mark Thompson – who announced the launch of the Verizon/New York Times 5G Journalism Project, which puts 5G tech in the hands of journalists;
- The Walt Disney Studios’ Chief Technology Officer Jamie Voris, discussing how Verizon has joined Disney’s StudioLAB innovation program to develop new business models and solutions to advance production and storytelling through 5G;
- Mariah Scott, CEO of Skyward, an advanced drone operations management developer and a Verizon company, talking about how drone deployment on 5G will impact business; and
- Dr. Christopher Morley, founder of MediVis, a start-up using augmented reality on a 5G network to enable surgeons to review detailed anatomical information on patients undergoing surgery.
In addition, Vestberg introduced the audience to Clayton Harris, the first person in the world to have 5G Home installed in his Houston home, and Los Angeles Laker Kyle Kuzma, who along with Yahoo Sports’ Jared Quay showcased a Verizon 5G virtual reality experience created as part of Verizon’s innovation collaboration with the NBA.
To close the keynote, Vestberg officially launched Verizon’s “Built on 5G Challenge,” calling on innovators to create new solutions that leverage 5G connectivity to transform the way people live, work and play.
Up to $1 million in total will be awarded to the winning innovators to develop their concepts on live 5G networks located at Verizon’s 5G New York Lab, 5G Waltham Lab, 5G Cambridge Lab, and new locations being built in Los Angeles, Palo Alto, and Washington D.C. In addition, Verizon 5G Lab technical advisors will provide training and support to winning innovators.