TORONTO – While the virtues of 5G have been well documented, KPMG has put a dollar value on it, estimating that the move to 5G telecom networks will unlock US$4.3 trillion in economic value across the globe.
In a new report entitled Canada’s Hyper-Connected Future: Are We Doing Enough To Prepare?, the firm questions whether Canada will be a player or a spectator as 5G leverages the power of new technology and drives advances in environmental, human health, financial services, transportation and social issues.
The report also urges Canadian companies and government to proactively work together to be both a major driver and beneficiary of the pending technology revolution, ahead of the likes of the U.S., South Korea and China.
"To push forward, we must work together to recognize and harness the scale of impact these 5G supercharged technologies will bring, and how it will expand the limits of what we can do as companies and as a nation,” said Dan Wilson, national technology sector lead for KPMG in Canada, in the report’s news release. “If we don't act fast enough we risk being left out of this revolution. Other nations will leap far ahead of us and impair our economic competitiveness as consumers and businesses bypass Canadian companies to access products and services from around the globe at an unprecedented speed."
