5G industry news

How Verizon is moving beyond connectivity to monetize 5G

  • 2 minute read
  • Published by Arti Mehta on 21 Nov 2019
  • Last modified 26 Nov 2019
Verizon has identified eight currencies of 5G, and at Digital Transformation Asia this month, Shankar Arumugavelu, the company’s Senior VP and Global CIO explained the three-pronged strategy Verizon is using to enable these currencies, and how to use these currencies to build a future beyond connectivity.

These ‘currencies’ that Verizon categorized are performance attributes firms should consider when evaluating whether a 5G network can deliver on its full potential (see image below).

Source: Verizon

Three-pronged

Verizon is building its network to support all eight currencies, explained Arumugavelu, and its strategy is essentially three pronged:

1 – Mobility first

“We have made it public that we will have 5G mobility rolled out across 30 cities in the US by the end of the year. And as I stand before you, we have more than 15 cities now powered with 5g mobility, and more than 15 sport stadiums as well.”

2 – Fixed wireless access

“[Fixed wireless access] gives us an opportunity to really extend our market share by essentially offering home broadband alternative solutions with 5G.

“We have five cities that we have rolled out in the US today with fixed wireless access. “

3 – Multi-access edge compute (MEC)

“The third area is really where we're focused is MEC which opens up opportunities for new business models.”

Electric aspirations

Arumugavelu declared “connectivity is like electricity in the digital age”, advising that the industry must figure out to build a future beyond connectivity, think more along the lines of platforms and applications, but how can it do that?

“What I'm talking about here is a simple framework  we call the “preserve, strengthen, transform framework,” Arumugavelu explained. “This is what we use internally within Verizon for our entire Verizon 2.0 transformation as well. All it talks about is, ‘What are the capabilities that we absolutely have to preserve? What are the areas where we'll have to strengthen our capabilities? And what are some of the new capabilities that would be allowed to build as an industry?’”

Watch the video below to hear Arumugavelu’s full keynote speech:

TM Forum is a global industry association for service providers and their suppliers in the telecommunications industry.

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