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Accenture: the benefits and challenges of 5G technology 

Brittany Hill
|Feb 26|magazine8 min read

As the adoption of 5G technology becomes increasingly mainstream, Business Chief takes a look at Accenture's recent study on how 5G will impact businesses. 

All around the world business decision makers believe that 5G will be “the most revolutionary network evolution yet,” with 79% believing it will have a significant impact on their organisation. However, concerns are still high when it comes to the technology’s security, with 35% expressing concerns around this topic, and 62% fearing that 5G will render companies more vulnerable to cyberattacks, with most of the risk being at the user level.

As this technology becomes more common within the business environment, 74% are expecting to see policies and procedures being redefined in relation to security as the technology emerges. 

“The link between 5G and its perceived security risks is complex,” said George Nazi, senior managing director and Communications and Media industry lead at Accenture. “According to our study, executives believe that 5G can help secure their businesses, but that 5G network architecture also presents inherent challenges in terms of user privacy, number of connected devices and networks, and service access and supply chain integrity.”

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As well as security, cost and external support is also weighing on the minds of business leaders, with 80% believing the cost of managing their IT infrastructure will increase, and 31% believing the upfront cost of implementing 5G will be too great. In addition, 72% believe they will need external help to imagine the future possibilities for connected 5G solutions. 

Although innovation does have its challenges, there are also numerous benefits too. The longer 5G is around businesses are increasingly embracing the technology and recognising its massive potential. 

“With the right business strategy and ecosystem collaboration, the signs point towards a world of compelling 5G use cases and business outputs,” said Nazi. “Communications service providers should act now to ensure they are at the heart of the 5G ecosystem to unlock the potential growth.”

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