Mobile technology is one of the fastest-scaling technologies the world has ever seen. There are already 9 billion devices globally and that number is growing fast. It is also one of the greatest drivers of economic growth and human equality in history. In research with Imperial College London, we proved that the deployment of mobile broadband networks spurs economic development. The results show, on an average, that a 10 per cent increase in mobile broadband adoption ratio leads to a 0.8 per cent increase in gross domestic product.
Connectivity has also proven to be even more critical since the Covid-19 pandemic gathered speed. At Ericsson, more than 85 per cent of employees have been working from home since early March.
Mobile technology is a platform for innovation
We often get excited about mobile technology and its evolution from 1G to 5G. But actually, the highest value and benefits came from the applications that mobile technology enables. Initially it was voice. With 4G, it drove the app economy. The most value was captured by applications that run on a 4G network, such as e-commerce, social media sites and music or video streaming. We did not foresee the value of these applications when 4G was launched a decade ago.
There was also another clear outcome. The two countries that launched 4G first — China and the United States — took a commanding lead in developing platform companies on top of the 4G network. Actually, the most successful platform companies grew quickly to become worth many times more than the network operators providing connectivity. This is not strange as mobile technology quickly gives first-movers massive scale by enabling global roll-out. Today, most applications are developed mobile-first.
This story is from the August 23, 2020 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 23, 2020 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Four Levers Of Enterprise AI Strategy
Wide-scale private sector AI deployment and new AI-based business opportunities and ecosystems can truly supercharge the Indian economy
"Don't let a unique chance slip by"
JEFF MAGGIONCALDA | CHIEF EXECUTIVE OFFICER | COURSERA
THE INCOMING DISRUPTION
The disruption in the industrial sector is still unknown, but inevitable. Companies need to wake up
THE WHEEL WHISPERER
For Manan Shah, Managing Director of MICL Group, luxury cars are not about showcasing one's wealth or status. It is about personal well-being
TRIPPING WITH TECH
A road trip is an adventure like no other. While you take in the experience, get some peace of mind with these nifty gadgets
Transforming Spaces
WHETHER YOU WANT TO REDECORATE YOUR BEDROOM OR HALLWAY, A GORGEOUS WALLPAPER ADDS FLAIR TO YOUR HOME AND ALLOWS YOU TO STAMP YOUR STYLE IN YOUR NEW ABODE
PMS VS MF THE BIG FIGHT
HOW DO MUTUAL FUNDS AND PORTFOLIO MANAGEMENT SERVICES MATCH UP? KNOW THE SCORE ON STRUCTURE, RULES, ENTRY FEES, CHARGES, AND TAX PERKS TO PICK THE RIGHT PATH FOR YOUR FINANCIAL JOURNEY
ALPHATALE
MONEY MANAGERS TO THE AFFLUENT DELIVERED ROBUST RETURNS TO INVESTORS IN THE PAST YEAR, THANKS TO THE BUOYANCY IN THE MARKETS. BUSINESS TODAY DECODES THEIR STRATEGY
"THE ALTERNATIVES SPACE CAN GROW 3X IN FIVE YEARS"
Vikaas M. Sachdeva, MD of Sundaram Alternates, talks about where India's alternative investment industry is headed
"ALWAYS BE DATA-DRIVEN WHILE INVESTING"
First Global's Founder and CMD Devina Mehra on her company's PMS outperformance, technology and industry