The advent of fifth-generation wireless network technology or 5G is all set to make far-reaching impact on our everyday lives and industries alike. Expected to contribute US$13.2 trillion to the global economy by 2035, this revolutionary breakthrough will have myriad of industrial and commercial applications.
In Asia Pacific, Singapore becomes one of the first countries to avail this disruptive technology at scale. 5G’s lower latency and faster speed will profit applications like tracking products and materials in the logistics sector, remote monitoring of production assets in manufacturing, and among others.
At the same time, this technological revolution is becoming increasingly associated with issues of security and trust within and outside countries, such as the trade-offs in Asia Pacific. For instance, the heart of the Huawei conundrum is linked to the focal point between cybersecurity and China threat- fear that Chinese companies will extend the China’ Communist Party influence.
Further, 62% of technology and business decision makers from different countries, including Europe and Asia-Pacific fear that 5G will make them more vulnerable to data breach and cyberattacks as per an Accenture study. The vulnerabilities lie with the offerings 5G promises of- like device authentication and encryption, credentialing, and device ID posing security dangers. All of this these potential threats call for emphasis and investment on risk management and along with compliance and regulation initiatives for Asia-Pacific organizations