Representatives from KT, Nokia, Huawei joined together to discuss the huge potential for socio-economic development in terms of building and delivering personalized products and services, in the session sponsored by the host country, Republic of Korea’s Ministry of Science and ICT.
The 4th industrial revolution offers huge potential for socio-economic development in terms of building and delivering personalized products and services at scale, dramatically increasing productivity and revenue, and creating new business models, competitors and markets.
Hossein Moiin, Executive Vice President and Chief Technology Officer for Nokia Mobile Networks was optimistic that efficiency will be improved in the coming networks that enable the 4th industrial revolution. As he said, we could see a “30% productivity increase with ICT in all sectors by digitizing services.” While optimistic, he noted that investments are needed along with the right regulatory frameworks – to foster investments and ensure that the right resources are allocated.
“In the 4th industrial revolution, digitization is a must,” said Marcelo Motta, Digital Transformation and Big Data Market Management, VP of Marketing, Huawei Technologies. He discussed the ways that 5G is will allow faster speeds, enabling download of an 8G Byte movie in 6 seconds. He also alluded to the dramatic increase in connections per square kilometer. As he said, right now approximately there are 3-6 devices per person nowadays and, in the future, + 100 sensors per person with IoT.
Dongmyun Lee, CTO & Head of the Institute of Convergence Technology, KT Corporation discussed their plans for the upcoming 2018 Winter Olympics in PyeongChang to premiere 5G and other new services, such as personalized viewing at the games. “Unlike current media experience, where we just view it. We want interactivity in services. You can choose the place and time you want to see in great detail…” he said. The old broadcast concept will be gone within several years. Personalized viewing will become more relevant. That is just one service that the revolution will enable.
In addition to new services, the 4th industrial revolution may dramatically change the way we manufacture, connect, analyse and operate, creating new opportunities and new business models in the years to come.